Nokia and Xiaomi signed two agreements — network and a multi-year patent deal — to assist Xiaomi to build its IoT and smartphone businesses.
Xiaomi also acquired patent assets from Nokia as part of the transaction. Nokia did not disclose financial details.
Rajeev Suri, president and CEO of Nokia, said: “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.”
As per the business cooperation agreement, Nokia will provide network infrastructure equipment to deliver the high capacity, low power requirements expected by large web providers and datacenter operators.
Nokia and Xiaomi will work together on optical transport solutions for datacenter interconnect, IP Routing based on Nokia’s newly announced FP4 network processor, and a data center fabric solution.
The companies agreed to explore opportunities for further cooperation, in areas such as Internet of Things, augmented and virtual reality, and artificial intelligence.
The Mi Ecosystem IoT platform has crossed 60 million connected devices, and there are now over 8 million daily active connected devices on the Mi Ecosystem platform.
“Our collaboration with Nokia will enable us to tap on its leadership in building high performance networks and strength in software and services, as we seek to create even more remarkable products and services that deliver the best user experience to our Mi fans,” said Lei Jun, chairman and CEO of Xiaomi.
