HELSINKI, May 23 (Xinhua) -- Finnish information technology company Nokia and its American rival Apple settled all litigation related to their intellectual property disputes, Nokia said on Tuesday.
The Finnish company signed a patent license and a business cooperation agreement with Apple, Nokia said in a press release.
Nokia said it would receive an up-front cash payment from Apple with additional revenues during the term of the agreement. However, the details of the agreement remain confidential.
Under the business collaboration agreement, Nokia will provide network infrastructure products and services to Apple, and Apple will sell Nokia digital health products (formerly under the Withings brand) in its retail and online stores.
Furthermore, the two firms are seeking for future collaboration in the field of digital health. The top executives of Nokia and Apple will meet regularly to "ensure that the relationship works effectively and to the benefit of both parties and their customers."
Maria Varsellona, chief legal officer at Nokia, described the agreement as meaningful between the two companies. "It moves our relationship with Apple from being adversaries in court to business partners working for the benefit of our customers," she said.
In December 2016, Nokia filed a number of lawsuits against Apple, alleging that it had violated 32 of its patents. As a result of the legal disputes, Apple pulled all health accessories under the brand of Withings, owned by Nokia following a purchase in April 2016, from its retail sales outlets.