LG and Nokia agree on smartphone patent license

"We are pleased to welcome LG Electronics to our licensing program," said Ramzi Haidamus, President of Nokia Technologies. "We’ve worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future."

The detailed royalty payment obligations will be subject to commercial arbitration, expected to conclude within a 1-2 year timeframe. Other terms of the agreement remain confidential between the two companies.