Nokia wins lawsuit against Daimler over mobile tech

Tuesday, 18. August 2020 11:12

Nokia Corp. has won its battle over fees for mobile technology with Daimler AG, the Manheim Court revealed on Tuesday, giving the Finish telecoms company an option to block the German carmaker from selling vehicles in its home country. However, in order to make such move, Nokia would have to pay a collateral of €7 billion to enforce the sales ban.

"The facts show that Daimler and its supporters in the case aren't willing to take a license," the court said in the final statement. Meanwhile, Nokia Technologies' President Jenni Lukander expressed hopes that "Daimler will now accept its obligations and take a license on fair terms."

Nokia's stocks rose 1.28% to sell for €4,31 per share at 11:09 am CET and have gained in total 29% since the start of the year.

Related Links: Daimler AGNokia Corp.
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Breaking the News / ND