New Delhi, June 16 (IANS): South Korean electronics major LG Electronics has signed a patenting licence with telecom equipment-maker Nokia to embed technologies on its smartphones developed by the Finnish company.
Under the agreement, the Korean firm will pay a royalty to the Finnish equipment-maker on its smartphone sales.
With this licence, Nokia has now signed more than 60 licensees for 2G, 3G and 4G mobile communication technologies.
Commenting on the deal, Nokia Technologies president Ramzi Haidamus said: "We've worked constructively with LG Electronics and agreed on a mutually beneficial approach, including the use of independent arbitration to resolve any differences."
"This agreement sets the scene for further collaboration between our companies in future," Haidamus added.