APPLE, NOKIA SPAT ENDS; APPLE PAYING NOKIA

On Tuesday Nokia announced that it has reached an agreement with Apple that “will result in settlement of all patent litigation between the companies,” and that both firms will withdraw all complaints against one another from the U.S. International Trade Commission. The two firms have been fighting over patents for the past few years, filing counter suit after counter suit. The battle was thought to have had some closure when the U.S. ITC ruled that Apple did not infringe on Nokia’s patents, but then last month the government group said it would continue its investigation. Nokia said Tuesday that the agreement “consists of a one-time payment payable by Apple,” and that the Cupertino-based company will continue to pay royalties to Nokia for the remainder of the agreement. “We are very pleased to have Apple join the growing number of Nokia licensees,” said Stephen Elop, Nokia’s president and CEO. “This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”