Tech giants Nokia and Xiaomi have announced that they have signed a business collaboration agreement and a multi-year patent agreement, including a cross-license to each company’s cellular standard-essential patents. Xiaomi also acquired patent assets from Nokia as part of the transaction.
Nokia will provide network equipment to Xiaomi and will collaborate on building IP transport solutions. The companies did not provide financial details of the agreement, saying it includes a cross-license to each company’s cellular standard patents.
In addition, both the companies have agreed to explore opportunities for further cooperation, in areas such as Internet of Things(IoT), augmented reality (AR) and virtual reality(VR) and artificial intelligence(AI).
Rajeev Suri, President and CEO of Nokia welcomed Xiaomi to Nokia’s family of patent licensees and said, “we look forward to working together on a wide range of strategic projects.”
According to PhoneArena’s report, HMD Global and Xiaomi have signed a deal which will mean that a future Nokia smartphone will feature Surge S1 SoC. Unfortunately, there’s no word when we will get to see first phone featuring Xiaomi Surge S1 SoC.
Xiaomi also has its own patent portfolio. It has applied for over 16,000 patents in the seven years it has been in existence and has been granted 4,000. Of those, 1,887 are overseas. The Chinese firm is looking to build out its portfolio of products which already includes TVs, smartphones, and air conditioners.
Commenting on the agreements signed between Xiaomi and Nokia, Lei Jun, Chairman, and CEO of Xiaomi said, “As a company seeking to deliver more exciting technological innovations to the world, we are excited at the opportunity to work more closely with Nokia in future. 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.”
Three years ago Microsoft purchased Nokia for more than $7 Billion, in order to elevate it Smartphone business. Unfortunately, Microsoft’s share of the US smartphone operating system market has fallen from 3.8 percent in April of 2014 to 1.7 percent today. Read more Business news.