Nokia and Xiaomi have announced that they have signed a multi-year patent agreement. This will benefit both the companies although Xiaomi stands to benefit more from this deal. Xiaomi has also acquired patents from Nokia as a part of the transaction.
The financial details were not revealed by any of the two companies, although a spokesperson told CNBC that this deal will help Xiaomi’s global expansion.
XIAOMI IS ONE OF THE WORLD’S LEADING SMARTPHONE MANUFACTURERS AND WE ARE DELIGHTED TO HAVE REACHED AN AGREEMENT WITH THEM
CEO OF NOKIA.
This deal will basically enable both companies to allow each other to comply with an industry standard with each other’s products. Nokia will be providing the necessary infrastructure to deliver high capacity low power requirements. This is necessary for companies that need to process and deliver lots of data.
XIAOMI IS COMMITTED TO BUILDING SUSTAINABLE, LONG-TERM PARTNERSHIPS WITH GLOBAL TECHNOLOGY LEADERS. 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 (PRODUCT BRAND) MI FANS WORLDWIDE
CEO OF XIAOMI
They have agreed to “explore opportunities for further cooperation” in various areas such as AI, VR, AR, and IOT, according to the press release. On top of these, they will also be working together on optical transport solutions for data center interconnect, IP Routing based on Nokia’s newly announced FP4 network processor, and a data center fabric solution
The once largest smartphone manufacturer Nokia still has many of the industry standards that are still used by the mobile industry till this day. It still makes money by licensing from the patients that it has built over the years. The partnership will also enable Nokia to feature Xiaomi’s Surge S1 SoC.
XIAOMI IS ONE OF THE WORLD’S LEADING SMARTPHONE MANUFACTURERS AND WE ARE DELIGHTED TO HAVE REACHED AN AGREEMENT WITH THEM. IN ADDITION TO WELCOMING SUCH A PROMINENT GLOBAL TECHNOLOGY COMPANY TO OUR FAMILY OF PATENT LICENSEES, WE LOOK FORWARD TO WORKING TOGETHER ON A WIDE RANGE OF STRATEGIC PROJECTS
CEO OF NOKIA
Xiaomi has stated that it’s no. of connected device has crossed the 60 million mark and 8 million daily active connected devices on its MiEcosystem platform. And with this business deal, Xiaomi’s potential is only going to increase more. They already have applied for about 16,000 patients till now out of which 4000 have been approved. Of these 4000 patients, 1,887 patients are based on overseas.
Both companies stand to benefit from this patent agreement in their respective ways.