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Nokia receives favorable arbitration award on patent license with LG Electronics

According to the press release issued by Nokia, licensing revenue from the agreement with LG will be reflected in the Finnish telecom’s earnings report for the third quarter of 2017 even though the expected revenues remain confidential at this time. The press release quotes Maria Varsellona, Nokia’s chief legal officer, as saying: “The use of independent arbitration to resolve differences in patent cases is a recognized best practice. We believe that this award confirms the quality of Nokia’s patent portfolio.” Varsellona also noted that Nokia sees additional opportunities for patent licensing agreements in at least the mobile communications market.