Nokia today said it expects to receive at least approximately EUR 1.3 billion or $1.4 billion of cash during 2016 – 2018 related to its patent settlement with Samsung.
The payment follows the ongoing arbitrations discussion between Samsung and Nokia Technologies. Nokia has also earlier received some related prepayments.
Nokia says the International Court of Arbitration of the International Chamber of Commerce issued its award for the binding arbitration between Nokia and Samsung.
As per the previous agreement between Nokia and Samsung, they settled the amount of additional compensation payable to Nokia for the five year extension of their license agreement covering Nokia patents from January 1, 2014.
This award covers part of the Nokia Technologies patent portfolio till the end of 2018. Nokia will continue to discuss with Samsung its other relevant intellectual property portfolios.
Including this award, Nokia Technologies expects to report net sales of nearly EUR 400 million in the fourth quarter of 2015 and approximately EUR 1,020 million in 2015. These sales include catch up revenue because the award exceeded revenue estimates already recognized between January 2014 and September 2015.
