Another 5 years on Nokia's patent CHAIN GANG for Samsung
Actual amount goes to arbitration, however
Nokia has announced that it has gotten Samsung to sign an extension on their patent licensing agreement for another five years, although neither of them is sure how much Sammy will be paying yet.
The Finnish firm has taken to its new life as a patent company with gusto, pursuing litigation with those that won't pay up with renewed vigour and tying in the Korean chaebol for another few years. Samsung has agreed to pay additional compensation to Nokia, the firm said, but the amount of the compensation has yet to be settled.
Nokia said that binding arbitration, which is expected to be concluded by 2015, would decide the figure for the licence.
"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", said Paul Melin, chief intellectual property officer at Nokia.
The once-mighty mobile firm has hung on to its impressive patent portfolio but sold off its device and services business to Microsoft. It says it plans on making money now by "investing in innovation and by actively managing its patent portfolio and licensing activities". ®
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