After months and months (almost 20 months) of suing and countersuing, Apple and Nokia have settled their legal disputes by entering into a patent license agreement. Under this agreement, both the companies will withdraw pending patent litigations as well as complaints to the US International Trade Commission.
Apple will pay Nokia a one-time fee and royalties for the term of the agreement.
Needless to say, this is good news for the Finnish giant as the incoming revenue will help them improve their financial outlook for Q2 2011.
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