Apple plans to spend nearly $1 billion over the next seven years for a license to InterDigital's patents. The move potentially indicates the iPhone maker's continued willingness to engage with the likes of Ericsson and Nokia for similar patent-licensing deals.
"On September 30, 2022, InterDigital, Inc. (the "Company") renewed a patent license agreement with Apple, Inc," InterDigital wrote in a brief SEC filing Monday. "The Company expects to recognize approximately $134 million in revenue each year over the seven-year term of the license, which commenced on October 1, 2022."
InterDigital did not provide additional details. However, the issue had been pressing against the R&D company. InterDigital focuses on developing high-end technologies, including those in the 5G realm, and then earning revenues on its patents through licensing deals."