It’s been while news has speculated that Nokia and Xiaomi are in a talk in terms of business partnerships and patent agreements.
Finally, two companies have come to an end and announced the business and patent agreements between the companies.
According to the agreements, both companies licensing each other’s cellular standard-essential patents.
Moreover, Xiaomi will use Nokia’s patents and network solutions.
Both companies will also collaborate and work on FP4 network processor-based IP Routing, data center interconnects, and a data center fabric solution, Internet of Things, Augmented and virtual reality, and artificial intelligence.
Rajeev Suri, President and CEO of Nokia stated-“In addition to welcoming such a prominent global technology company to our family of patent licensees, we look forward to working together on a wide range of strategic projects.”
“As a company seeking to deliver more exciting technological innovations to the world, we are excited at the opportunity to work more closely with Nokia in future.” stated Lei Jun, CEO of Xiaomi.
Instead of becoming a rival to each other this partnership will deliver more sustainable and high-quality product to consumers.