Nokia Signs Patent License Agreement With Chinese Chaomi

Jul

5

2017

The Finnish telecoms equipment industry has signed a patent licensing agreement with China’s smart phone maker Chaoyi , the two companies announced Wednesday.

The agreement stipulates that Nokia will provide Shawi with network infrastructure equipment. “Shawomi is one of the leading smartphones manufacturers in the world and we are delighted to reach an agreement with them,” Nokia CEO Rajiv Suri said in a statement.

Nokia has licensing deals with major smartphone makers, including Apple and Samsung, but the deal with Shawomi is the first Finnish company to have a deal with a Chinese phone company.

“In terms of finance, I do not think it’s too big for Nokia, but it’s a good start to negotiations with other Chinese companies,” said Hanu Ruhala, analyst at OP Equity.

Patent revenues account for a large portion of Nokia’s total revenues, with more than 90% coming from telecommunications equipment. But licensing payments are very lucrative given the recession in the industry sector.

Nokia has collected a great deal of patents during its dominance of the global mobile phone market. It covers technology that reduces the need for device components in the phone, maintains battery life and increases radio reception, as well as other features.

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