Nokia Oyj (ADR) (NYSE:NOK) and Apple Inc (NASDAQ:AAPL) have in a joint move gone ahead to make public the fact that they had settled their patent dispute and at the moment they were happy that they had succeeded at forging some new business partnership that would hopefully help them climb higher the ladder of “business success”
According to some top reliable sources, the two tech giants have chosen to terminate the patent wars which are greatly associated with some long-drawn litigation in the tech space.
Jeff Williams, who happens to be Apple’s chief operating officer while addressing a press conference went ahead to state that the company was as a matter of fact excited about the fact that the dispute had been finally resolved and that they could now focus on some other developments that would help them rise to become one of the Industry leaders.
By expanding their business relationship with Nokia, they will be guaranteed to enjoy much of the “goodies” that will culminate with this particular partnership. As a matter of fact, things are looking bright for the two, but of course we have to wait and see what culminates from the new alliance.
At this particular moment, details haven’t yet been unveiled. But the one thing that is for sure I the fact that it has already been decided upon that indeed Nokia will be entrusted with the supplying of a number of the network infrastructure product and services. This will of course be to the Cupertino-based giant whereas some other sources reveal that Apple will be engaging in the sale of Nokia’s digital health products in both its retail as well as the online stores.
Apple has also come out clearly to state that indeed during the term of the agreement Nokia stands guaranteed to obtain an “up-front cash payment” with “additional revenues. According to some close sources, Nokia will be looking to use the cash in the general funding of its capital allocation plans. One thing that is for sure is that the top provider will be unveiling its reports in the third-quarter 2017 results.