Nokia Corporation (NYSE: NOK) has joined hands with Nordic Semiconductor to provide a pioneering new approach to license the use of cellular IoT Standard Essential Patents. It has been disclosed that the business acquiring IoT hardware from Nordic will now have the chance to buy licenses to Nokia’s industry-leading portfolio of cellular patents.

Nordic Semiconductor's goal is to make IoT as simple as possible for its customers. Nordic has brought openness and consistency early in the design process thanks to this partnership with Nokia. Through this partnership, it will offer the additional assurance that Nordic cellular IoT clients have been wanting for the past three to four years.

Furthermore, Nokia has a successful track record of collaborating with the industry to provide successful licensing solutions, and this new strategy is another example. It's a win-win situation for Nordic's clients and Nokia since it streamlines the SEP licensing procedure in the IoT field and makes it easier to reach an amicable and efficient licensing deal.

In addition, the move will help cellular IoT flourish in the future and guarantee that consumers have access to a wider selection of linked products and services. This new agreement with Nordic is the first of its kind. This pact will streamline and accelerate the SEP licensing process and offer greater transparency and predictability to companies providing IoT products and services.

The companies have confirmed that licenses will be available at the end device level and firms will continue to have the opportunity to license directly with Nokia. Nordic Semiconductor disclosed that this is its first step in making the licensing of cellular IoT technology more obvious and transparent.