Apple just had to pay Nokia a huge sum

Apple paid Nokia an insane amount of money to avoid going further into litigation over patent infringement.

Apple made amends with Nokia earlier this year after a tumultuous 2016 that involved each company suing each other. At the time, we didn’t know exactly what led to the companies coming to a truce. Turns out it was Apple accepting it owed Nokia some money and paying up. Just how much money did Apple end up paying Nokia? A cool $ 2 billion.

Eventually the battle went as far as Apple pulling Nokia fitness product under the Withings brand from its stores. But with Apple coughing up $ 2 billion, both companies resumed their working relationship. The amount paid hardly makes a dent for Apple given theĀ insane amount of profit it rakes in. Just this week, Apple was ordered to pay up to $ 506 million for infringing upon patents owned by the University of Wisconsin-Madison. Apple is not accepting the ruling sitting down and is ready to continue the legal battle with the university.

The situation is a little different with Nokia. The amount paid up to Nokia is essentially a settlement and a wise one. It prevents a longer legal battle with a big-time peer that is now Apple’s partner. It was in Apple’s best interest to put the matter to bed, and it did for a hefty price.

TechnoBuffalo

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