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Apple, Nokia Reach Settlement

Long-running patent dispute put to rest
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Nokia and Apple are learning how to get along. Nokia reported it reached an agreeable settlement with Apple that will put an end to an ongoing patent dispute. The exact terms of the settlement have not been disclosed, but Nokia said that both companies agreed to withdraw their complaints currently lodged at the International Trade Commission.

The settlement will see Apple paying out an undisclosed amount to Nokia in addition to ongoing royalties. Though the dollar and cents significance of the deal is unknown, Nokia representatives did say the cash from the settlement will likely bolster the company’s quarterly outlook. Further, the deal will include the cross-licensing of some of Apple and Nokia's patents, though Apple insists they will protect the innovations that make the iPhone unique.

The settlement marks the end to an almost two-year battle, with Nokia casting the first stone in 2009. The company sued Apple for cell phone technology patent infringement. The suit quickly snowballed into a spate of global legal exchanges.