Nokia, aiming to return to its former glory days, announced a long-term 5G patent agreement with Vivo, one of the rising stars of recent times. It was stated that some parts of the agreement will remain confidential between the two parties and will come into effect as of 2024.
This isn’t the first agreement
Seeking to regain its dominance in the technology world, Nokia had previously made agreements with many different brands before Vivo came into play. It is known that the Finnish company has made long-term licensing agreements with giants like Apple, Samsung, and Huawei over the past year.
Industry experts view Nokia’s collaboration with almost every leading company in the sector as a smart strategy. Through alliances with these companies, the brand hopes to enhance its strength and lead the way into the 5G era.
Nokia continues to make headlines with its occasional major profits. It is predicted that Nokia Technologies, one of the brand’s subsidiaries, will generate more than 1.4 billion euros in revenue in 2024 alone. Whether these moves will bring the brand back to its former glory days remains to be seen, but it can be said with confidence that they hold promise for the future.
The previous agreement between Nokia and Vivo dates back to 2021 and was not renewed, leading to the matter being brought to German courts. It is claimed that this new agreement will thaw the ice between the two brands.
What are your thoughts on this matter? What do you think the next move for the renowned brand will be? Feel free to share your opinions with us in the comments section below. Your responses are valuable to us.
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