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Xiaomi to acquire Nokia's network infra patent; to collaborate on AI, VR

Xiaomi is witnessing rapid growth in the Indian market and clocked over $1 bn in revenue in 2016

IANS  |  New Delhi 

Confirmed: Xiaomi is making a laptop and expanding into telco services

In a strategic move, Chinese tech major and Finnish mobile phone manufacturer on Wednesday signed an agreement for business collaboration and patent licencing where will acquire key patent assets from

The multi-year patent agreement includes a cross-license to each company's cellular standard-essential patents. The financials of the deal were not disclosed.

"As a company seeking to deliver more exciting technological innovations to the world, we are excited at the opportunity to work more closely with in future," said Lei Jun, Chairman and CEO of Xiaomi, in a statement.

Although not faring well globally including in China, is witnessing rapid growth in the Indian market and clocked over $1 billion in revenue in 2016.

Under the agreement, Nokia, which had recently revamped the feature phone market with its nostalgia-driven 3310, will provide network infrastructure equipment designed to deliver high capacity, low power requirements for large web providers and data centre operators.

and will work together on optical transport solutions for data centre interconnect, IP routeing based on Nokia's newly announced 'FP4' network processor and a data centre fabric solution.

"In addition to welcoming such a prominent global technology company to our family of patent licensees, we look forward to working together on a wide range of strategic projects," added Rajeev Suri, President and CEO of

The have agreed to explore opportunities for further cooperation in areas such as Internet of Things (IoT), augmented and virtual reality and artificial intelligence (AI).

Beyond smartphones, is also a leading IOT player. The Mi Ecosystem IoT platform has crossed 60 million connected devices, and there are now over eight million daily active connected devices on the Mi Ecosystem platform.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, July 05 2017. 12:55 IST
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