Nokia says it has entered into a new license agreement with Canadian smartphone rival Research In Motion which will end all existing patent litigation between the two struggling companies.<\/p>\n
Nokia said Friday that the agreement includes a “one-time payment and on-going payments, all from RIM to Nokia,” adding that the terms were confidential.<\/p>\n
Last month, the Finnish company sued the Blackberry maker for breach of contract in Britain, the United States and Canada over cellular patents they agreed on in 2003.<\/p>\n
Major manufacturers of phones and wireless equipment are increasingly turning to patent litigation in the rapidly growing lucrative smartphone market.<\/p>\n
Nokia is among leading patent holders in the industry. Last year, it received a $565 million royalty payment from Apple Inc. to settle long-standing patent disputes.<\/p>\n
RIM shares slump on subscriber concerns<\/strong><\/a><\/p>\n BlackBerry 10 SA launch date confirmed<\/strong><\/a><\/p>\n Research in Motion dropped from Nasdaq 100<\/strong><\/a><\/p>\n