Nokia and Huawei sign patent license agreement

Nokia Corporation Stock Exchange Release December 21, 2017 at 09:50 (CET +1)

Espoo, Finland - Nokia today announced that it has signed a multi-year patent license agreement with Huawei.

"Huawei is one of China's largest companies and is among the world's leading smartphone manufacturers and we are delighted to welcome them to our family of patent licensees," said Maria Varsellona, chief legal officer at Nokia.

While details of the license agreement remain confidential, Nokia will follow its existing practices for disclosing patent licensing revenue in its quarterly financial reports and expects that revenue for the agreement will begin to be recognized in the fourth quarter of 2017, including an element of non-recurring catch-up revenue, with additional revenues expected during the term of the agreement.