Samsung, Nokia extend patent license deal

Samsung has extended a patent license agreement between Nokia and Samsung for five years. The agreement would have expired at the end of 2013.

Under the terms of the extended agreement, Samsung will pay additional compensation to Nokia for the period commencing from 1 January 2014 onwards, and the amount of such compensation shall be finally settled in a binding arbitration which is expected to be concluded during 2015. Nokia will retain its patent portfolio following the proposed transaction to sell substantially all of its Devices & Services business to Microsoft and plans to further invest in innovation, and actively manage its patent portfolio and licensing activities.