As a part of the tech in Techstory, we bring you the latest in the technology from around the world under “TECH THIS WEEK!” every Sunday! This week we sawNokia expanding its licensing agreement with Samsung and . Microsoft issuing a statement that it would not be able to achieve its 1 billion user milestone. We also saw AT & T’s that are currently inspecting performances of towers and the reason why Google nixed its virtual reality device idea. In case, if you’ve missed any of those, along with Apple promoting simple song writing royalties, don’t worry just keep reading!
Nokia Expands Licensing Agreement With Samsung
Nokia and Samsung have agreed to expand a licensing deal on Wednesday. The deal grants the two companies greater access to each other’s patented technologies.
Nokia said Wednesday that the expanded agreement covers access to each other’s patented technologies and will push its annual net sales in patent and brand licensing to some $1 billion in 2016.
“With intellectual property portfolios from Nokia Technologies, Nokia Networks and Alcatel-Lucent, Nokia has a wealth of technologies relevant to mobile devices and beyond,” said Ramzi Haidamus, president of Nokia Technologies. “We welcome this expanded agreement with Samsung which recognizes the strength of our assets, and we continue to pursue new licensing opportunities across a number of diverse industries.”
In February, Nokia announced that it expects to receive some 1.3 billion euros of cash between 2016 and 2018 related to its settled and ongoing arbitrations in Nokia Technologies, including with Samsung. At the time, the International Court of Arbitration ordered additional compensation to be paid to Nokia under an extended agreement with the South Korean company.