Video and Music Downloader Free search and download video - music online

Reuters - Qualcomm Inc and Nokia (NOK1V.HE) said on Wednesday they had settled their legal battles with a deal that has No. 1 phone maker Nokia paying Qualcomm an upfront payment and ongoing royalties.

Qualcomm Inc (QCOM.O) and Nokia (NOK1V.HE) said on Wednesday they had settled their legal battles with a deal that has No. 1 phone maker Nokia paying Qualcomm an upfront payment and ongoing royalties.

Qualcomm shares were up 15 percent at $51.75 in after-hour trade after the companies announced a 15-year agreement covering multiple widely used wireless technologies. Nokia U.S. shares were up slightly from their close of $26.70.

The companies said Nokia has a license to use all of Qualcomm's patents in its wireless equipment and in return it agreed not to use its patents against Qualcomm, allowing the company to use Nokia technology in its chipsets.

Nokia also agreed to assign ownership of a number of patents to Qualcomm, including patents essential to widely used wireless technology standards WCDMA, GSM and OFDMA.

As part of the agreement, Nokia said it would withdraw an anti-competitiveness complaint it made along with several other companies against Qualcomm to the European Commission.

The companies did not disclose the specific terms of the agreement but both said they were pleased with the deal.

Nokia said the agreement was within its original financial expectations while Qualcomm said it paved the way for "enhanced opportunities between the companies in a number of areas."

Qualcomm shares had closed at $44.82 on Nasdaq, up 1.6 percent in the regular session.

(Reporting by Sinead Carew; Editing by Gary Hill)