Apple and Nokia settle patent dispute and sign new deal

Nokia has settled its legal battle with Apple with a new patent licence agreement and also signed a business deal with the US giant, surprising investors who had expected the dispute to drag on. The companies said on Tuesday that Nokia would receive an upfront cash payment and additional revenues from Apple starting from the current quarter, without giving details. Analysts said the revenue was likely to be far higher than a previous deal. Nokia shares, which fell in December when the patent dispute was announced, jumped as much as 8 per cent to their highest since February 2016 and were 6.5 per cent higher at €5.88 by 0848 GMT. "We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia," Apple chief operating officer Jeff Williams said in a joint statement from the companies.