Nokia gets decision in patent arbitration with LG

HELSINKI (Reuters) - Nokia said on Monday it had received a decision in patent licence arbitration with LG Electronics.

The Finnish company did not disclose details of the award but said that it would book revenue, as well as a non-recurring catch-up payment, starting from the third quarter.

Nokia sold its once-dominant phone business to Microsoft in 2014, leaving it focused on its telecoms network equipment business while retaining its handset patents.

(Reporting by Jussi Rosendahl; editing by Jason Neely)