However, the agreement encompasses Nokia's innovations in 5G and other technologies. Nokia expects to generate revenue from this deal starting from January 2024, and it aligns with the company's long-term outlook, as previously disclosed in the first quarter.

Nokia stated that its extensive patent portfolio, which comprises approximately 20,000 patents, has been built on a significant investment of over 140 billion euros in research and development. Within this portfolio, Nokia possesses over 5,500 patents deemed essential to 5G technology. The company's president of Nokia Technologies, Jenni Lukander, emphasized that the agreement highlights the robustness of Nokia's patent portfolio, which is a result of decades of R&D investments and contributions to cellular standards and other technological advancements.

Nokia has been known for a while to make a comeback with their 5G technology investments, or innovations if you will.

Movement of Nokia in the last five years. (Source: Trading Economics)

Sources: https://www.investing.com/news/stock-market-news/nokia-renews-patent-license-agreement-with-apple-3118118

https://www.reuters.com/technology/nokia-renews-patent-license-agreement-with-apple-2023-06-30/

https://apnews.com/article/nokia-apple-5g-patent-license-agreement-19b3d480bb0303cdcced0e4f4899163e

https://tradingeconomics.com/nok-w:us