RIM handing over $65 million for patent payment to Nokia

A few days ago, Research in Motion and Nokia announced the end of their patent fight that began earlier this year. It started when Nokia filed a lawsuit which claimed that RIM was violating its patents relating to WiFi connectivity with its BlackBerry smartphones. The legal fight ended with RIM agreeing to license Nokia's patents.

At the time of the announcement, the specific financial terms of the deal were not disclosed, with Nokia saying only that RIM would pay Nokia a one time payment as well as some ongoing charges. This week, AllThingsD.com reports that a filing with the US Securities and Exchange Commission by RIM revealed that the one time payment to Nokia would be 50 million euros, or about $65 million.

There's still no word on how much RIM will be paying Nokia for its other future payments, but they will likely be revealed in upcoming statements to the SEC. However, AllThingsD speculates that those amounts per year could come to be almost as much as this one time charge. Analysts speculate that the agreement will allow Nokia to collect between two to five dollars for each BlackBerry phone sold by RIM that uses Nokia's patents.

Source: AllThingsD.com
Money image via Shutterstock

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