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Finland’s Nokia Corp. NOK -0.13% is set to receive additional patent royalties from Samsung Electronics Co. (005930.SE) after extending its patent license agreement with the South Korean company.
The two technology companies extended an existing patent license agreement that was set to expire later this year for another five years, Nokia said in a statement on Monday.
Under the new patent agreement Samsung will be paying additional compensation to Nokia, with the sum to be decided by arbitration during 2015, Nokia said.
Source: Marketwatch
