Telecom company Nokia has signed a multi-year patent license agreement with South Korea's Samsung that covers the Finnish company's video technologies in Samsung televisions. The agreement means that Samsung will pay royalties to Nokia, according to a press release.

The new agreement is separate from the two companies' existing 5G patent license agreement. The terms of the agreement are confidential.

"This agreement is further evidence of Nokia's leadership in video and multimedia technologies and another validation of our decades-long investment in multimedia R&D and standardization," said Arvin Patel, Chief Licensing Officer, New Segments at Nokia.