Qualcomm And Nokia Sign Deal

After long courtroom wrangles over intellectual property rights and royalties, old rivals Qualcomm and Nokia have signed a deal.

The result will mean Nokia can use Qualcomm chips, lowering production costs, while it will give Qualcomm access to much of the smartphone market, a win-win situation.

Andrew Gilbert, the head of Qualcomm’s European business, told Reuters.

"We are very, very excited about this opportunity. We are going to compete for as much of their business as we can."

Nokia’s first model using its own software and Qualcomm chips should hit the market next year. It will be a 3G phone with a Symbian OS, aimed at the North American market.