Espoo, Finland - Nokia acknowledges Qualcomm has released the following information in its Form 10-Q report, filed with US Securities and Exchange Commission on April 19, 2006, concerning its licensing agreement with Nokia.
"We have a license agreement with Nokia Corp. which in part expires on April 9, 2007. While the parties have been in discussions to conclude an extension or a new license agreement beyond that time period, there is no certainty as to when we will be able to conclude an agreement or the terms of any such agreement. There is also a possibility that the parties will not be able to conclude a new or extended agreement by April, 2007. In that event after April 9, 2007, unless and until the existing agreement is extended or a new agreement is concluded, Nokia's right to sell subscriber products under most of our patents (including many that we have declared as essential to the CDMA, WCDMA and other standards) and therefore Nokia's obligation to pay royalties to us will both cease under the terms of the current agreement, and our rights to sell integrated circuits under Nokia's patents will likewise cease under the terms of the current agreement."
The terms of Nokia's current license agreement with Qualcomm are covered by a non-disclosure agreement and we are therefore unable to disclose specific contract details.
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