LG Agrees to License Nokia Smartphone Patents

LG Electronics agreed to license Nokia Technologies smartphone patents, Nokia said in a Tuesday announcement. LG is the latest of more than 60 licensees for Nokia's 2G, 3G and 4G mobile communication technology patents and the first major smartphone manufacturer to join the licensing program since Nokia divested its Devices & Services business to Microsoft in 2014, Nokia said. LG’s “detailed royalty payment obligations” under the license agreement “will be subject to commercial arbitration, expected to conclude within a 1-2 year timeframe,” Nokia said. Other terms weren’t disclosed. LG didn’t comment.