Nokia ADRs Add 1% Pre-Bell on Favorable Decision in Patent License Arbitration with LG Electronics

MIDNIGHT TRADER 7:09 AM ET 9/18/2017 

07:09 AM EDT, 09/18/2017 (MT Newswires) -- Nokia(NOK) American depository receipts added 1% in recent pre-market trade after the company received favorable ruling from the International Court of Arbitration of the International Chamber of Commerce in relation to its patent license arbitration with LG Electronics.

The companies had previously agreed that this would settle the royalty payment obligations for the royalty-bearing smartphone patent license from Nokia Technologies announced in June 2015.

Nokia (NOK) said that it expects that revenue for the agreement will be recognized in Q3, including an element of non-recurring catch-up revenue, with additional revenues expected during the term of the agreement.

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