Nokia settles patent dispute with Apple

Reuters: Nokia has settled its patent dispute with Apple and signed a business collaboration deal with the US giant, the Finnish firm said on Tuesday, sending its shares sharply higher.

Nokia said on Tuesday it would receive an upfront cash payment and additional revenues from Apple starting from the current quarter. It did not give details of the amounts. Analysts said they had expected the legal dispute to drag on and were surprised by the relatively quick resolution. “(The agreement) moves our relationship with Apple from being adversaries in court to business partners,” Nokia’s Chief Legal Officer Maria Varsellona said in a statement.