Nokia and Xiaomi sign business cooperation and patent agreements
GlobeNewswire
Press Release
July 5, 2017
Espoo, Finland & Beijing, China - Nokia and Xiaomi announced that they have signed a business collaboration agreement and a multi-year patent agreement, including a cross license to each company`s cellular standard essential patents. Xiaomi also acquired patent assets from Nokia as part of the transaction.
"Xiaomi is one of the world`s leading smartphone manufacturers and we are delighted to have reached an agreement with them," said Rajeev Suri, President & CEO of Nokia. "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."
Under the business cooperation agreement, Nokia will provide network infrastructure equipment designed to deliver the high capacity, low power requirements expected by large web providers and datacenter operators. Nokia and Xiaomi will work together on optical transport solutions for datacenter interconnect, IP Routing based on Nokia`s newly announced FP4 network processor, and a data center fabric solution. In addition, the companies have agreed to explore opportunities for further cooperation, in areas such as Internet of Things, augmented and virtual reality, and artificial intelligence.
With presence in over 30 countries and regions, Xiaomi is well known for its smartphones packed with innovative technologies at disruptive prices. Beyond smartphones, Xiaomi is also a leading Internet of Things player. The Mi Ecosystem IoT platform has crossed 60 million connected devices, and there are now over 8 million daily active connected devices on the Mi Ecosystem platform.
"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," said Lei Jun, chairman and CEO of Xiaomi. "Xiaomi is committed to building sustainable, long-term partnerships with global technology leaders. Our collaboration with Nokia will enable us to tap on its leadership in building large, high performance networks and formidable strength in software and services, as we seek to create even more remarkable products and services that deliver the best user experience to our Mi fans worldwide."
About Nokia We create the technology to connect the world. Powered by the research and innovation of Nokia Bell Labs, we serve communications service providers, governments, large enterprises and consumers, with the industry`s most complete, end-to-end portfolio of products, services and licensing.
From the enabling infrastructure for 5G and the Internet of Things, to emerging applications in virtual reality and digital health, we are shaping the future of technology to transform the human experience. nokia.com
About Xiaomi Xiaomi was founded in 2010 by serial entrepreneur Lei Jun based on the vision "innovation for everyone". We believe that high-quality products built with cutting-edge technology should be made accessible to everyone. We create remarkable hardware, software, and Internet services for and with the help of our Mi fans. We incorporate their feedback into our product range, which currently includes Mi and Redmi smartphones, Mi TVs and set-top boxes, Mi routers, and Mi Ecosystem products including smart home products, wearables and other accessories. With presence in over 30 countries and regions, Xiaomi is expanding its footprint across the world to become a global brand.
FORWARD-LOOKING STATEMENTS It should be noted that Nokia and its businesses are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements, including, without limitation, those regarding: A) our ability to integrate Alcatel Lucent into our operations and achieve the targeted business plans and benefits, including targeted synergies in relation to the acquisition of Alcatel Lucent; B) expectations, plans or benefits related to our strategies and growth management; C) expectations, plans or benefits related to future performance of our businesses; D) expectations and targets regarding financial performance, results, operating expenses, taxes, currency exchange rates, hedging, cost savings and competitiveness, as well as results of operations including targeted synergies and those related to market share, prices, net sales, income and margins; E) expectations, plans or benefits related to any future collaboration or to the business collaboration agreement and the patent license agreement between Nokia and Apple as well as between Nokia and Xiaomi, including income to be received under any collaboration or partnership or agreement; F) expectations and targets regarding collaboration and partnering arrangements, joint ventures or the creation of joint ventures, as well as our expected customer reach; and L) statements preceded by or including "believe," "expect," "anticipate," "foresee," "sees," "target," "estimate," "designed," "aim," "plans," "intends," "focus," "continue," "project," "should," "will" or similar expressions. These statements are based on management`s best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors, including risks and uncertainties that could cause these differences include, but are not limited to: 1) our ability to execute our strategy, sustain or improve the operational and financial performance of our business and correctly identify and successfully pursue business opportunities or growth; 2) our ability to achieve the anticipated benefits, synergies, cost savings and efficiencies of the acquisition of Alcatel Lucent, and our ability to implement our organizational and operational structure efficiently; 3) general economic and market conditions and other developments in the economies where we operate; 4) our dependence on the development of the industries in which we operate, including the cyclicality and variability of the information technology and telecommunications industries; 5) our global business and exposure to regulatory, political or other developments in various countries or regions, including emerging markets and the associated risks in relation to tax matters and exchange controls, among others; 6) Nokia Technologies` ability to protect its IPR and to maintain and establish new sources of patent licensing income and IPR-related revenues, particularly in the smartphone market; 7) our ability to successfully realize the expectations, plans or benefits related to any future collaboration or to the business collaboration agreement and the patent license agreement between Nokia and Apple as well as between Nokia and Xiaomi, including income to be received under any collaboration or partnership or agreement; 8) our dependence on IPR technologies, including those that we have developed and those that are licensed to us, and the risk of associated IPR-related legal claims, licensing costs and restrictions on use; 9) our exposure to direct and indirect regulation, including economic or trade policies, and the reliability of our governance, internal controls and compliance processes to prevent regulatory penalties in our business or in our joint ventures, as well as the risk factors specified on pages 67 to 85 of our 2016 annual report on Form 20-F under "Operating and financial review and prospects-Risk factors" and in our other filings with the U.S. Securities and Exchange Commission. Other unknown or unpredictable factors or underlying assumptions subsequently proven to be incorrect could cause actual results to differ materially from those in the forward-looking statements. We do not undertake any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: NOKIA via GlobeNewswire HUG#2117997
