Apple Paid $2 Billion in Cash to Nokia as Part of Lawsuit Settlement

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After a litigation fight in May  settled a patent lawsuit back in May. But the two companies didn’t comment on the actual value of this settlement, hence, remains undisclosed.

Nokia disclosed its financial results for the second quarter of 2017 this week, and within the results the company mentioned that it received an “up-front cash payment” of approximately €1.7 billion ($2 billion), part of which was said to be recognized during the Q2 2017 results.

According to Nokia, it’s been a longstanding infringement as Apple has allegedly relied on some of Nokia’s patents since the iPhone 3GS. Those patents are related to software, video coding, chipsets, display, UI and antenna.

In regards to the $2 billion payment from Apple, Nokia said it would disclose its plans for the money in its Q3 earnings later this year.

Second, we got a substantial upfront cash payment of €1.7 billion from Apple, strengthening further our cash position. As said earlier, our plans is to provide more details on the intended use of cash in conjunction with our Q3 earnings.

Nokia Technologies led the way, with sales up 90% versus the same period last year. That was largely, but not completely, driven by our recently-announced agreement with Apple; and you can also see the impact of that agreement in our cash position.

Apple has partially paid the $2 billion (€1.7 billion) cash sum to Nokia. Apart from this, Apple will continue to pay royalties to the company during the term of the agreement.

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