Why Nokia (NOK) Is Gaining Today

NEW YORK (TheStreet) -- Nokia (NOK) was gaining 7.6% to $7.54 Friday on news that the Finnish smartphone maker has settled a patent dispute with HTC.

The two smartphone makers have settled all patent litigation and entered into a patent and technology collaboration agreement. HTC will make payments to Nokia as part of the agreement. The two companies will collaborate on HTC's LTE patent portfolio and "future technology collaboration opportunities."

"We are very pleased to have reached a settlement and collaboration agreement with HTC, which is a long standing licensee for Nokia's standards essential patents," Nokia chief intellectual property officer Paul Melin said in a press release.

Terms of the agreement are confidential.

Must read: Nokia Oyj (NOK) Strong In Pre-Market Trading

NOK ChartNOK data by YCharts

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%