HTC, Nokia In Patent And Technology Deal, All Patent Disputes Dismissed

(RTTNews) - Nokia (NOK) and Taiwan's HTC Corp. on Friday settled all pending patent litigation between the two companies and entered into a patent and technology collaboration deal.

HTC will make payments to Nokia and the collaboration will involve HTC's LTE patent portfolio, further strengthening Nokia's licensing offering.

The companies will also explore future technology collaboration opportunities. The full terms of the agreement are confidential.

"We are very pleased to have reached a settlement and collaboration agreement with HTC, which is a long standing licensee for Nokia's standards essential patents," said Paul Melin, chief intellectual property officer at Nokia.

Nokia, once a major mobile phone player and which has seen its fortunes wane amid stiff competition, is divesting its phone business to Microsoft Corp. (MSFT). The deal, which is expected to close soon, helps Nokia to focus on its equipment networking business.