After fighting in court since this past December, Apple and Nokia have settled their patent lawsuit and agreed to become business partners.
According to a jointly issued press release, Apple will start restocking Nokia health products, previously marketed under the Withings brand, at Apple Stores across the globe. The company has also agreed to make both an upfront and ongoing payments to license Nokia’s technology.
Nokia, meanwhile, will provide Apple with products and services related to wireless infrastructure. Additionally, the two companies have agreed to meet regularly to discuss how they can collaborative on future digital health initiatives.
“This is a meaningful agreement between Nokia and Apple,” said Maria Varsellona, Nokia’s chief legal officer, in the joint press release. “It moves our relationship with Apple from being adversaries in court to business partners working for the benefit of our customers.”
While financial terms of the agreement were not disclosed, Nokia says it will brief investors and analysts on the monetary effects of the agreement will have on its business during the company’s next quarterly earnings call. At the time of writing this article, Nokia’s stock is up 7 percent following the news.