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Lava International: The executive who got elevated to managing director in November 2023 said the company will require additional funds in the next two years to expand its marketing efforts in a bid to capture around 25-30% share in the sub-Rs 30,000 smartphone segment, which Raina said is "a fair share for an Indian brand".
The Finnish company welcomed the "amicable" agreement with Honor, previously a unit of U.S. sanctions-hit Huawei Technologies, after a recent set-back in China where a local court sided with Oppo in its demand for lower royalty rates for Nokia's technologies, South China Morning Post reported.
Nokia, once the world's number one mobile phone maker, holds a significant patent portfolio of some key technologies needed in phone manufacturing and the resulting licensing revenue represented 39% of operating profit in 2022. Nokia has been in legal disputes with Chinese device makers Oppo and Vivo in various countries over the use of 4G and 5G patents since 2021 which have not been resolved, a source familiar with the matter said.
Chinese smartphone maker Xiaomi said on Tuesday a senior Huawei executive had seriously misrepresented facts when he claimed that rival firms were not fully respecting patents.
Data from market analytics firm Counterpoint Research shows that only four companies - Vivo, Huawei, Samsung and Apple - have taken less time to ship the same number of units. In total, just 14 companies globally which have shipped over 200 million phones to date.