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Nokia, Samsung Sign Patent Licensing Deal For Video Standards- Quick Facts

Finnish communications company Nokia Corp. (NOK) announced on Thursday that it has signed a patent license agreement with South Korea's Samsung Electronics Co. Ltd. (SMSN.L,SSNNF.OB,SSNLF.OB) that covers the use of Nokia innovations in video standards.

As per the deal, Samsung will make royalty payments to Nokia, but the details were not disclosed.

According to Jenni Lukander, President, Nokia Technologies, the agreement with Samsung further validates Nokia's investments to R&D and contributions to multimedia and video technology standards.

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