In order to reverse a slide in sales, the Finnish handset maker(NOKIA) has finally agreed to a patent-licensing deal with BlackBerry maker Research In Motion (RIM).
It is reportedly said that the latest patent licensing deal between Nokia and RIM will end all legal disputes between the companies.
The financial details of the patent deal have not been disclosed by any of the firms. However, it is expected that RIM will make a one-time and "ongoing" payments of approximately $65 million to Nokia under the latest licensing deal.
It is important to note here that the Finnish handset maker Nokia is struggling to gain revenues these days. Recently, it sold units and assets including its headquarters to boost its cash position. As far as cast reserve is concerned, it is found that it has shrunk by nearly 50 percent in the past five years. Further, it is expected that it will dip to below 3 billion euros by year-end.
