There was dispute between Apple and Nokia over a breach of patent technology which has now settled. It was in December when Nokia sued Apple. The reason for it was that Nokia said that Apple has ruptured 32 technology patents. It includes displays, user interface and encoding on video.
Now Apple and Nokia has made settlement and agreed to cooperate. The companies have signed a contract which says that Apple would continue to use this technology and in return pay through cash to Nokia. Moreover Apple would sell Nokia’s health products in its stores.
There is no specific statistic of how this deal would affect both the companies but as per an expert, value of this contract would be millions of dollars for Nokia.
Keith Mallinson, the analyst said the arrangement is per year so we can say the deal is in hundreds of millions of dollars spectrum.
The reason is because it will shield many patents and Nokia had some essential ones.
Looking from Apple’s point of view, it won’t cost them much compared to the revenue company generates. Both the companies are looking to cooperate with each other. Apple’s Jeff Williams also said they are both satisfied with this deal. From 2009-2011 the companies were stuck in these legal fights. Now finally they have settled down and made peace which is a healthy sign.