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Nokia and Apple settle patent row

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Nokia and Apple settle patent row
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There has been some rare good news for Nokia. Its arch-rival Apple has agreed to settle a long running row over patents.

The out-of-court settlement was reached after Apple was sued by Nokia which claimed the iPhone maker was using some of its technology.

No details of the settlement have been released, but analysts calculated that Nokia could be estimated to get between one and two percent of iPhone revenues, which are seen at around $43 billion (30 billion euros) this year.

Nokia said the deal would boost its second-quarter earnings. It recently issued a profit warning for that period.

Shares in the struggling mobile phone maker rose on the news, but it still faces a difficult future. Nomura has just forecast Nokia would lose its position as the world’s largest smartphone maker this quarter to Samsung Electronics and that Apple would surpass it next quarter.