Nokia expects boost from patent licensing pact with Samsung

Finnish telecoms company Nokia expects a sales boost this year after agreeing to expand its licensing agreement with Samsung.

Nokia said Wednesday that the expanded agreement covers access to each other's patented technologies and will push its annual net sales in patent and brand licensing to some 950 million euros ($1 billion) in 2016.

In February, Nokia announced that it expects to receive some 1.3 billion euros of cash between 2016 and 2018 related to its settled and ongoing arbitrations in Nokia Technologies, including with Samsung. At the time, the International Court of Arbitration ordered additional compensation to be paid to Nokia under an extended agreement with the South Korean company.