Xiaomi inks multi-year patent deal with Nokia

Xiaomi Corp has acquired a slate of patents from Nokia Corp as the Chinese smartphone vendor steps up efforts to accelerate its global expansion.

The two sides said on Wednesday they had signed a multi-year patent agreement, including a cross license for each company's cellular standard essential patents. Xiaomi also acquired patent assets from Nokia as part of the transaction.

Xiaomi, whose products and services are available in 30 countries and regions, is ramping up efforts to expand its overseas presence. The intellectual property partnership with Nokia, once the world's biggest phone maker, can help it tackle potential legal disputes overseas.