Finland’s Nokia and Chinese handset maker Xiaomi technology have signed a patent licensing agreement. Both companies collaborated to explore opportunities in areas such as the IoT, VR, and AI. Nokia & Xiaomi Ink Patent Deal to Work on VR, AI and More.
The deal will see both companies license i.e. patents which are essential to allow products to comply with an industry standard. This agreement includes a cross licence to each company’s cellular standards.
Nokia & Xiaomi Ink Patent Deal to Work on VR, AI and More
According to the deal, Nokia will also provide network infrastructure equipment to Xiaomi. Nokia also plans to work with Xiaomi on technologies related to Nokia’s new FP4 network processor.
Nokia CEO Rajeev Suri said in a statement:
Xiaomi is one of the world’s leading smartphone manufacturers and we are delighted to have reached an agreement with them
Nokia already has license deals with leading handset makers Apple and Samsung but this is the first agreement with Chinese smartphone maker.
Xiaomi CEO, Lei Jun said:
“Our collaboration with Nokia will enable us to tap on its leadership in building large, high performance networks and formidable strength in software and services, as we seek to create even more remarkable products and services that deliver the best user experience to our Mi fans worldwide
Xiaomi was very famous and top Chinese smartphone maker however now it has to compete with rivals such as Oppo and Vivo. This agreement will help Xiaomi in global expansion.
Nokia and Xiaomi have not revealed the financial details of the deal yet.