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Nokia (NOK) Settles EU Patent Licensing Dispute With Daimler
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Nokia Corporation (NOK - Free Report) has resolved a long-drawn patent licensing dispute with German automobile manufacturer Daimler AG . The move is likely to preempt a potential investigation by the European Commission on a Daimler complaint and probable consequent imposition of fine if Nokia was found to be at fault, thereby preventing legal hassles and bad publicity associated with it.
Earlier, Daimler, along with French auto component supplier Valeo S.A. (VLEEY - Free Report) , German car parts maker Continental AG (CTTAY - Free Report) and German electronics firm Bury Technologies, registered a complaint with EU antitrust regulators to initiate a probe against Nokia’s patents. The bone of contention was related to Nokia’s patents pertaining to the automotive industry, which Daimler alleged were essential for the development of new products and services for connected driving. The auto major argued that fair and non-discriminatory access should be provided for the overall benefit of the auto industry. However, Daimler accused Nokia of using its patent rights to claim licensing fees for technologies used in navigation systems, vehicle-to-vehicle communication and self-driving cars, harming the progress of the industry.
Nokia had countered the arguments by alleging that Daimler intentionally raised the issue to side-step the licensing program and avoid paying fees for its technological innovations. The telecom equipment manufacturer further pointed out that unlike other auto majors, Daimler had long been resisting efforts to take a license for using its technologies in its cars, and thus sought refuge of the antitrust regulators to bypass the legitimate licensing fees to Nokia.
With the current truce agreement, Nokia will license its technology to Daimler for an undisclosed fee. All other pending litigations between the two firms, including that in EU, were amicably settled — the terms of which were not revealed to the public.
The stock has gained 20.4% in the past year while the industry has rallied 47.1%.
Image Source: Zacks Investment Research
Nokia facilitates its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency. The company is continuously expanding its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.
The company is well positioned for the ongoing technology cycle given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale product, which enables customers to quickly upgrade to 5G, is growing fast. The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, Nokia is transforming the way people and things communicate and connect with each other. These include seamless transition to 5G technology, ultra broadband access, IP and Software Defined Networking, cloud applications and Internet of Things.
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
Nokia (NOK) Settles EU Patent Licensing Dispute With Daimler
Nokia Corporation (NOK - Free Report) has resolved a long-drawn patent licensing dispute with German automobile manufacturer Daimler AG . The move is likely to preempt a potential investigation by the European Commission on a Daimler complaint and probable consequent imposition of fine if Nokia was found to be at fault, thereby preventing legal hassles and bad publicity associated with it.
Earlier, Daimler, along with French auto component supplier Valeo S.A. (VLEEY - Free Report) , German car parts maker Continental AG (CTTAY - Free Report) and German electronics firm Bury Technologies, registered a complaint with EU antitrust regulators to initiate a probe against Nokia’s patents. The bone of contention was related to Nokia’s patents pertaining to the automotive industry, which Daimler alleged were essential for the development of new products and services for connected driving. The auto major argued that fair and non-discriminatory access should be provided for the overall benefit of the auto industry. However, Daimler accused Nokia of using its patent rights to claim licensing fees for technologies used in navigation systems, vehicle-to-vehicle communication and self-driving cars, harming the progress of the industry.
Nokia had countered the arguments by alleging that Daimler intentionally raised the issue to side-step the licensing program and avoid paying fees for its technological innovations. The telecom equipment manufacturer further pointed out that unlike other auto majors, Daimler had long been resisting efforts to take a license for using its technologies in its cars, and thus sought refuge of the antitrust regulators to bypass the legitimate licensing fees to Nokia.
With the current truce agreement, Nokia will license its technology to Daimler for an undisclosed fee. All other pending litigations between the two firms, including that in EU, were amicably settled — the terms of which were not revealed to the public.
The stock has gained 20.4% in the past year while the industry has rallied 47.1%.
Nokia facilitates its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency. The company is continuously expanding its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.
The company is well positioned for the ongoing technology cycle given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale product, which enables customers to quickly upgrade to 5G, is growing fast. The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, Nokia is transforming the way people and things communicate and connect with each other. These include seamless transition to 5G technology, ultra broadband access, IP and Software Defined Networking, cloud applications and Internet of Things.
We remain impressed with the inherent growth potential of this Zacks Rank #2 (Buy) firm. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>