RIM to pay Nokia $65 million in first patent settlement

CANADA:Two weeks ago Nokia announced that RIM would pay it a one-off fee and make subsequent payments as part of a patent licensing agreement. It’s now emerged, thanks to an SEC filing spotted by AllThingsD, that the one-off payment was a lump sum of €50 million, or around $65 million. The fee has been recorded in RIM’s financial books for the third quarter of fiscal 2013. We still don’t know how much the future installments from RIM to Nokia will be, but it appears the Canadian company is paying a fairly hefty price to settle its legal troubles with the similarly beleaguered Finnish giant.

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