Nokia rises on long-term patent agreement with Apple
David Ramos

Nokia (NYSE:NOK) shares rose more than 4.5% in extended-hours trading on Friday after the company announced it had signed a long-term agreement with Apple (NASDAQ:AAPL) for patent licensing.
The license agreement between the two tech companies covers Nokia's (NOK) fundamental inventions in 5G and other areas. Nokia

Nokia will receive undisclosed payments from Apple (AAPL) for a multi-year period, replacing the existing deal that was set to expire at the end of the year.
"The agreement reflects the strength of Nokiaâs patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies," Jenni Lukander, President of Nokia Technologies said in a statement.
Nokia (NOK) said it would start recognizing the revenue in January 2024.