RIM pays Nokia $65 mil upfront

Investor's Business Daily

The BlackBerry maker is paying Nokia (NOK) about $65 mil upfront as part of a Dec. 21 agreement to settle patent litigation in the U.S., U.K., Canada and Germany, it said in a filing Friday. In addition to that lump sum, Research In Motion (RIMM) will likely have to make ongoing payments to Nokia for use of its patents. RIM hopes its coming BlackBerry 10 operating system and phones will reverse sagging fortunes. Shares fell 0.3% to 11.79.

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