For those waiting for confirmation about this sort of thing, Samsung didn’t disappoint.
As expected, Nokia and Samsung have extended their patent license agreement for five additional years.
The agreement would have expired at the end of 2013. According to the updated and extended agreement, Samsung will pay additional compensation to Nokia for the period commencing from January 1, 2014 onward.
The amount of such compensation shall be finally settled in a binding arbitration which is expected to be concluded during 2015.
“This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties,” says Paul Melin, Chief Intellectual Property Officer of Nokia.
Nokia will retain its patent portfolio following the proposed transaction to sell substantially all of its Devices & Services business to Microsoft.
