Nokia and LG join hands on smartphone patent license

LG will embed technologies by Nokia in its smartphones as the company has agreed on a royalty-bearing patent license.

"We are pleased to welcome LG Electronics to our licensing program," Nokia Technologies President Ramzi Haidamus said in media statement.

LG holds more than 60 licensees for Nokia's communication technologies and the first major smartphone manufacturer to join the licensing program since Nokia partnered up with Microsoft in 2014.

"We've worked constructively with LG Electronics and agreed on a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future," Haidamus told reporters.

The detailed royalty payment commitments will be subject to commercial arbitration and is expected to conclude within a 1-2 years.

(Image credit: Indiatimes)