Ericsson to pay 80 million euros in damages settlement to Nokia

Telecoms gear maker Ericsson has reached an agreement with Finland’s Nokia to pay a settlement of 80 million euros ($97.0 million), it said on Wednesday.

Ericsson said the settlement would impact operating profit (EBIT) by 80 million euros and cashflow by 26 million euros in the second quarter.

The Swedish company added that the remainder of the settlement amount would be made in similar installments in2022 and 2023 respectively, impacting cash-flow.