Nokia announced today that they have reached a settlement with Apple in what was a long string of lawsuits and counter suits filed with the U.S. International Trade Commission involving alleged patent infringement by Apple in their iPhones.  Last month, the ITC ruled that no infringement had been committed, but then followed up by saying that they would investigate the matter further.  It seems that Apple was not confident enough in their case to let the investigation go on, so they have agreed to pay an undisclosed one-time sum to Nokia to close the case.  In addition, Apple will continue to pay royalties to the Finnish phone giant to prevent further infringement claims involving the same patents.

In a press release this morning, Nokia CEO, Stephen Elop, smugly welcomed Apple to the party:

"We are very pleased to have Apple join the growing number of Nokia licensees.  This settlement demonstrates Nokia's industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market."

This is a much needed win for Nokia, who has seen more than its fair share of turmoil in recent weeks.  Amongst dropping stock prices and departing execs, it was just recently projected that They would lose their crown as the world's top smartphone manufacturer to Samsung, as soon as the end of the quarter.  This may be the end of legal road, but it may embolden the struggling Nokia to expand their claims to other companies. 

Source: Nokia (full press release); Via: BGR