Nokia expects to recognize the revenue related to this new patent license agreement starting in January 2024. The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report for Q1 issued on April 20, 2023.
The Supreme Court on Friday rejected the claim of the Chinese smartphone brand Oppo05. 08. 2023 Saturday / By: Robert Denes / Generic / Exact time: BST / Print this page
In 2018, Oppo received a license from Nokia to use the Finnish telecom equipment's technology for three years, but now Oppo is accused of using Nokia's technology without consent.
In a landmark ruling, the Supreme Court on Friday dismissed Chinese smartphone brand Oppo's plea against a Delhi High Court order ordering the company to deposit 23 percent of its sales in the country for infringing a Nokia patent.
A bench of the Delhi High Court passed the order in July after finding that the Chinese smartphone brand was using Nokia's technology without the necessary consent. The HC arrived at a penalty figure of 23 percent after considering Oppo's Indian sales, which account for 23 percent of global sales.
The spokesperson of Nokia Technologies announced in a statement that they welcome the decision of the Supreme Court. "Oppo has refused to renew its license on fair and reasonable terms or resolve the matter amicably and has used our technology for two years without paying royalties," a Nokia spokesperson said.
It is worth noting that before the ruling by the Indian lawmakers, courts in Germany, the United Kingdom, the Netherlands and Brazil had all ruled in favor of Nokia.
"Once again, we encourage Oppo to play by the rules and accept a license on fair and reasonable terms like its competitors, rather than continuing to operate without one," Nokia said.
In 2018, Oppo received a license from Nokia to use the Finnish telecommunications equipment technology for three years. Nokia claimed that after the pact expired, OPPO sold about 77 million devices in India without paying a single rupee as royalty.Via Link