Xiaomi to acquire key Nokia patents

Jul 5, 2017 15:39 IST

Chinese tech major Xiaomi on 5 July 2017 signed an agreement for business collaboration and patent licencing with Finnish mobile phone manufacturer Nokia. As per the agreement, Xiaomi will acquire key patent assets from Nokia.

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Highlights of the agreement
• The multi-year patent agreement includes a cross license to each company's cellular standard essential patents.
• Under the agreement, Nokia will provide network infrastructure equipment designed to deliver high capacity, low power requirements for large web providers and data centre operators.
• Nokia and Xiaomi will work together on optical transport solutions for datacentre interconnect, IP routing based on Nokia's newly announced 'FP4' network processor.
• The companies will also explore opportunities for further cooperation in areas such as Internet of Things (IoT), augmented and virtual reality and Artificial Intelligence (AI).

Xiaomi witnessed a rapid growth in the Indian market and clocked over USD 1 billion in revenue in 2016.

Beyond smartphones, Xiaomi is also a leading Internet of Things (IoT) player. The Mi Ecosystem IoT platform has crossed 60 million connected devices, and there are now over eight million daily active connected devices on the Mi Ecosystem platform.


Quick Digest

Who: Xiaomi

What: To acquire key Nokia patents

When: 5 July 2017

Is this article important for exams ? Yes
Read more Current Affairs on: Xiaomi , Nokia , Xiaomi-Nokia , Nokia patents

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