Nokia signs multi-year patent license deal with Huawei, shares rise

Reuters News
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Posted: Dec 21, 2017 3:40 AM

HELSINKI (Reuters) - Nokia and China's Huawei have signed a multi-year patent license agreement, the Finnish company said on Thursday.

Nokia did not say what the license agreement was for, saying that the details were confidential.

It expected that revenue stemming from the agreement would begin to be recognized in the fourth quarter.

Nokia's shares rose on the news and were up 3.2 percent at 0819 GMT.

(Reporting by Helsinki newsroom, writing by Gwladys Fouche; editing by Jason Neely)