Global smartphone brand Oppo and Swedish based telecommunications firm Ericsson have signed a multi-year global patent license agreement that will lay a solid foundation for further cooperation between the two companies in the 5G era.
A patent license agreement is a contract that grants a licensee exclusive rights to manufacture, sell, and use a patented invention, subjected to certain terms. It is also used to define the amount of royalties the licensee owes the licensor.
Commenting on the new venture, Adler Feng; OPPO’s Head of Intellectual Property lauded the move that will enable the two firms secure the use of their intellectual property.
“OPPO has always placed intellectual property rights as our top priority. We look forward to working with Ericsson to drive cutting-edge innovation in products and services,” the OPPO Head of Intellectual Property said in an official statement.
Ericsson’s Chief Intellectual Property Officer, Gustav Brismark, shared the same sentiments as his OPPO counterpart while also reiterating the importance of the deal to the two companies.
“This important deal confirms the value of our patent portfolio and further validates the Ericsson FRAND licensing program. Ericsson has signed more than 100 license agreements to date and we are delighted to sign a mutually beneficial agreement with OPPO,” he said.
The deal with Ericsson is the latest in a series of license agreements by OPPO with key telecommunication industry partners including Qualcomm, Dolby and Nokia. According to the smartphone manufacturer, OPPO will continue to work closely with leading industry partners to bring the best products and experiences to consumers globally.
Following a patent-first strategy, OPPO has always attached great importance to the patent and reserve accumulation. As of January 2019, the company had filed more than 33,000 patent applications worldwide; with the firm owning more than 8,000 granted patents.