Apple and Nokia agree terms over patent dispute

Nokia has settled its legal battle with Apple with a new patent licence agreement and also signed a business deal with the US giant, surprising investors who had expected the dispute to drag on.

The companies said that Nokia would receive an upfront cash payment and additional revenues from Apple starting from the current quarter, without giving details. Analysts said the revenue was likely to be far higher than a previous deal.

Nokia shares, which fell in December when the patent dispute was announced, jumped as much as 8% to their highest since February 2016 before paring some gains.