The battle between Nokia and Apple over smartphone patents is done. After the International Trade Commission decided in Nokia's favor in April, Apple apparently decided it was time to think about settling rather than facing an import ban on its devices..
Bloomberg reports the companies have reached a settlement under which Apple will pay Nokia an undisclosed sum, as well as royalties, for the right to use technology that Nokia has patented. Though Nokia had asserted 46 different patents in its various claims against Apple, the specific details of that settlement - including which patents it covers - are confidential. One analyst in Helsinki estimates that the initial payment will range in hundreds of millions of euros, the story says, because roughly 200 million devices that use the technology at is sue have been sold to this point.
The settlement comes at a critical time for the Finnish company as it fights to remain relevant in the smartphone market. According to Reuters, both Samsung and Apple are on pace to overtake Nokia, which has been the world's largest smartphone maker for the last 15 years. The settlement will allow the company to focus more on growing its business.