HELSINKI - In a significant development for the tech industry, Nokia (HE:NOKIA) and Oppo have announced a cross-license agreement that resolves their global patent litigation concerning 5G technology. The agreement, which was reached today, puts an end to a legal dispute that had notably impacted Oppo's operations in European markets.
The settlement has significant implications for both companies. Under the terms of the agreement, Oppo will make royalty payments to Nokia. This financial arrangement is anticipated to bolster Nokia's intellectual property licensing revenue, contributing to the company's financial stability.
Moreover, the agreement paves the way for Oppo to potentially resume business in crucial European markets such as Germany, where its presence had been affected by the legal battles. The resolution is seen by both Nokia and Oppo as a positive move towards promoting innovation and respecting intellectual property rights within the technology sector.
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