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Nokia and chipmaker Qualcomm settled a long-standing patent dispute, hours after their lawsuit was scheduled to go to trial.

Nokia and chipmaker Qualcomm settled a patent dispute, hours after their lawsuit was scheduled to go to trial. The two companies said they had reached a 15-year licensing deal in which Nokia will pay undisclosed royalties to Qualcomm for technology that improves cell phone batteries and performance. That could mean $400 million in royalties for Qualcomm next year, said American Technology Research analyst Mark McKechnie. With all lawsuits dropped, he added, the deal is “probably a smart move for Nokia, but a lucrative move for Qualcomm.” (The New York Times)

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