India, Feb. 5 -- Finland-based telecommunications company, Nokia (NOK) on Monday announced that it has entered into a multi-year 5G patent agreement with China's Vivo, after signing similar deals with Apple, Samsung, OPPO, Honor, and Huawei in the past 13 months.
Under the agreement, Nokia would receive royalty payments and catch-up payments from Vivo.
Jenni Lukander, President of Nokia Technologies, said, "We have now almost completed our smartphone license renewal cycle. We are delighted to have reached an agreement with Vivo, which reflects mutual respect for each other's intellectual property rights".
Nokia anticipates generating around 1.4 billion euros, equivalent to $1.51 billion, through its intellectual property licensing busine...