Nokia has settled its legal battle with Apple with a new patent licence agreement and also signed a business deal with the U.S. giant. As Laura Frykberg reports, the deal surprised investors who had expected the dispute to drag on.
A tech tiff resolved. Apple and Nokia agree to work together again.. After settling a legal dispute over the iPhone maker's right to use property owned by the Finnish firm. Nokia's shares soared 7 percent on the news. Their largest increase since early last year. (SOUNDBITE) (English) CMC MARKETS, ANALYST, MICHAEL HEWSON, SAYING: "I think there's the fact that they've actually agreed to collaborate on a number of certain projects, with respect to healthcare applications is a very big boost for Nokia whose share price since 2007 has fallen of a cliff." Under the deal, Nokia will start receiving royalties from Apple later this year. And Apple will continue to use Nokia's products. A remarkable turnaround, when just six months ago Apple said it would no longer work with Nokia. Accusing the company of extortion. What's in it for Apple is less clear - the financial terms of the agreement have not been disclosed.