Nokia sent out a presser
that it has extended the secretive agreement it had with Samsung on
mobile related patents for another five years. The kicker is that the
price Samsung will have to pony up will not be known until 2015 rolls
in.
It will ultimately be settled in a binding
arbitration then, likely with a lot of variables clearer, such as
Samsung's total phone turnaround, and Nokia being a separate entity at
the time, that will have the rights on the vast patent portfolio after Microsoft acquires the Devices & Services division next year
.
“This
extension and agreement to arbitrate represent a hallmark of
constructive resolution of licensing disputes, and are expected to save
significant transaction costs for both parties”, bragged Paul Melin, Chief Intellectual Property Officer for Nokia.
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