Nokia Seeks Royalty Income from Apple i-Phone
Nokia is seeking 1-2% of royalty income for each i-Phone that Apple has sold. The Finnish giants Nokia have accused Apple of “trying to get a free ride on the back of Nokia’s innovation“.
With the percent of royalty income they seek, Nokia could be getting $6 to $12 per phone sold. With more than 30 million phones already sold, the grand total Nokia would reap out of this would be close to $400 million. Which, by the way, is a minuscule portion of the profit Apple Pie. Apple has reported profits going upto $1.67bn in the last quarter, exceeding many analysts expectations.
Nokia has filed a law suit against Apple for infringing patents without royalties. The 10 alleged patent infringements, which apply to all models of the iPhone, involving features such as wireless data, speech coding, security and encryption.
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