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LENOVO GROUP LIMITED

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Lenovo : Nokia settles patent fight with Lenovo

04/07/2021 | 01:22am EDT
Nokia to cut up to 10 000 jobs by 2023

STOCKHOLM (Reuters) - Finland's Nokia has settled a multi-year patent fight with China's Lenovo Group, the world's biggest PC maker, resolving all pending litigation across all jurisdictions, the companies said on Wednesday.

While terms of the cross-license agreement remain confidential, Lenovo will make a net balancing payment to Nokia, the Finnish telecom equipment maker said.

A Nokia spokesman declined to disclose the financial details.

Nokia launched its legal battle against Lenovo in 2019 over alleged infringement of 20 video-compression technology patents and had cases in the United States, Brazil and India, in addition to six cases in Germany.

Lenovo had also sued Nokia in a court in California.

A Munich court ruled https://www.reuters.com/article/ctech-us-nokia-patent-lenovo-idCAKBN2751ZR-OCATC in September that Lenovo infringed one of Nokia's patents, and it ordered an injunction and a recall of products from retailers. The order was stayed https://www.reuters.com/article/uk-nokia-patent-lenovo-group-idUKKBN27I264 in November by a German appeals court.

"The global accord struck will enable future collaboration between our companies for the benefit of customers worldwide," said John Mulgrew, chief intellectual property officer of Lenovo.

Nokia's patent portfolio is composed of around 20,000 patent families, including over 3,500 patent families declared essential to the 5G technology standard.

Last month Nokia struck https://www.reuters.com/article/us-nokia-patent-samsung-idUSKBN2B30ML a deal with Samsung to license patents covering its innovations in video standards.

Its Scandinavian rival, Ericsson, has also got ongoing patent disputes https://cn.reuters.com/article/kpn-ericsson-patent-idCNL8N2LU1VQ with Samsung and KPN NV, the largest Dutch telecommunications company.

(Reporting by Supantha Mukherjee in Stockholm; Editing by Matthew Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LENOVO GROUP LIMITED 2.51% 10.62 End-of-day quote.45.08%
NOKIA OYJ 5.00% 4.2665 Delayed Quote.35.40%
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Financials (USD)
Sales 2021 58 745 M - -
Net income 2021 1 107 M - -
Net Debt 2021 392 M - -
P/E ratio 2021 15,6x
Yield 2021 2,87%
Capitalization 16 469 M 16 466 M -
EV / Sales 2021 0,29x
EV / Sales 2022 0,27x
Nbr of Employees 63 000
Free-Float 58,3%
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Number of Analysts 19
Average target price 1,46 $
Last Close Price 1,37 $
Spread / Highest target 53,3%
Spread / Average Target 6,90%
Spread / Lowest Target -39,1%
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Managers and Directors
NameTitle
Yuan Qing Yang Chairman & Chief Executive Officer
Gianfranco Lanci President & Chief Operating Officer
Wai Ming Wong Chief Financial Officer & Executive Vice President
Arthur Hu Chief Information Officer & Senior Vice President
Yong Rui Chief Technology Officer & Senior Vice President
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