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What’s cooking up in Nokia and Samsung’s innovation rooms?INTL

What’s cooking up in Nokia and Samsung’s innovation rooms?

Nokia (NOK) and Samsung (BC94) are striking a Walter White-Jesse Pinkman type of relationship that is sending shockwaves across the telecom world.

The duo agreed on a patent license pact covering the use of Nokia’s innovations in video standards. The financial terms of the deal were not released, but the South Korean multinational electronics company will pay royalties to the Finnish telecom giant. This won’t be Nokia’s first attempt at wowing the world with innovation — it currently holds about 20,000 patent families.

BTW, Samsung’s rival Ericsson (ERIC) filed a lawsuit in the US against the former for allegedly infringing upon its mobile phone patents – so it’s worth keeping an eye out for those developments too.

why it matters
Forgetting about mobile phones for a minute, Nokia has always been a key player in the industry when it came to multimedia and video research development. So, the fact that Samsung wants in on its business means that something major is being cooked.