Xiaomi Corp. has acquired a swathe of patents from Nokia Oyj, making its latest acquisition of technology to drive a global expansion.
The Chinese smartphone maker is getting its hands on a trove of intellectual property from the Finnish company that once led the world in phone sales before Apple Inc. ushered in the smartphone era. The deal expands a portfolio augmented last year by the purchase of some 1,500 patents from Microsoft Corp., and may help smooth over potential legal tangles abroad. Under their agreement, Xiaomi will buy patents from Nokia for an undisclosed sum, while the two companies have agreed to share essential licensing rights.
Xiaomi, which has slipped in global smartphone rankings since 2014, is angling to make a comeback through investments in retail stores at home while fine-tuning an overseas expansion that’s slowed with the departure of former international honcho Hugo Barra. For now, it’s focusing on a selection of emerging markets including India, Russia, and Indonesia. But the company has said it intends to establish a presence in the U.S., where it’s held off on selling phones in favor of cheaper devices such as fitness bands. Read more...
The Chinese smartphone maker is getting its hands on a trove of intellectual property from the Finnish company that once led the world in phone sales before Apple Inc. ushered in the smartphone era. The deal expands a portfolio augmented last year by the purchase of some 1,500 patents from Microsoft Corp., and may help smooth over potential legal tangles abroad. Under their agreement, Xiaomi will buy patents from Nokia for an undisclosed sum, while the two companies have agreed to share essential licensing rights.
Xiaomi, which has slipped in global smartphone rankings since 2014, is angling to make a comeback through investments in retail stores at home while fine-tuning an overseas expansion that’s slowed with the departure of former international honcho Hugo Barra. For now, it’s focusing on a selection of emerging markets including India, Russia, and Indonesia. But the company has said it intends to establish a presence in the U.S., where it’s held off on selling phones in favor of cheaper devices such as fitness bands. Read more...