Apple, Nokia Settle Legal Dispute After 8 Years And Enter Into New Deal

May 24, 2017 01:00 AM EDT | Rebecca Pearson

Apple and Nokia have settled an eight-year legal dispute over intellectual property Tuesday. Now that the companies worked things out, Apple announced it entered into a multi-year patent license deal with the Finland business.

Nokia led the sale of cellphones for years before Apple launched the first iPhone in 2007. In 2009, Nokia filed a lawsuit accusing Apple of not paying licensing fees when the California tech giant made use of its technologies and patents. Among these included the patent for battery life conservation, lost phone recovery, voice recognition and the reduction of hardware components so a mobile phone remains lighter without sacrificing functionality. Both companies were still in a legal battle until December 2016, as per Motley Fool.

Apple, however, confirmed the settlement and the new agreement with Nokia in a statement published on the company's official site. Nokia's Chief Legal Officer, Maria Varsellona, said the company forged a "meaningful agreement" with its former adversary. Apple CEO Jeff Williams, on the other hand, stated his company is looking forward to business expansions with Nokia.

The new agreement will have Nokia laying the network infrastructure for Apple in terms of providing products and services. Apple, on the other hand, will be selling Nokia's Wirthings digital health products, such as the blood pressure monitor and movement tracker, in its online and retail stores.

Apple and Nokia also agreed to hold regular executive conferences to discuss future business endeavors. The companies forged a commitment to strengthen its partnership, which should benefit not just its operations but also its customers.

Nokia has also been developing new cloud computing products that Apple could get first dibs, according to Inc. Analysts say the resolution of the dispute and the new partnership benefits Nokia most financially. For now, however, it's still too early gauge the full impact of the collaboration. Learn more about Apple and Nokia's new deals in the video below.

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