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Nokia shares rise on Qualcomm deal
HELSINKI - Shares in the world's top cellphone maker, Nokia, rose on Thursday after it signed a patent agreement with US firm Qualcomm, ending three years of legal battles.
‘I think it is good for Nokia. There have been a lot of uncertainties around this issue and all these are now removed,’ said Martti Larjo, an analyst with Nordea.
In a 15-year agreement, Nokia agreed to make an upfront payment and pay royalties to Qualcomm, but said payments per phone would fall.
The deal, which ends all legal cases between the two firms, covers the world's most widely used mobile phone technologies and some key emerging ones.
The companies did not reveal specific financial details but several analysts saw Nokia as the winner.
‘Net royalty rate falls. This is the key positive statement here and this is seen in the share price,’ said eQ Bank analyst Jari Honko.
Shares in Nokia were 1.4 percent higher at 17.20 euros by 0717 GMT, outperforming firmer DJ Stoxx European technology index.
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