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Nokia and Xiaomi signed patent agreement

Finnish telecoms network equipment maker Nokia and Chinese smartphone maker Xiaomi Technology signed a patent licensing agreement, the company announced on Wednesday.

The companies did not disclose financial details of the agreement, stating that it includes cross-licensing patents in the field of mobile communication standards.

Nokia will also provide network infrastructure equipment for Xiaomi.

"Xiaomi is one of the leading smartphones manufacturers and we are very pleased to have reached an agreement with them," said Nokia CEO Rajeev Suri.

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