Telecoms gear maker Ericsson has reached anagreement with Finland’s Nokia to pay a settlement of EUR 80 million (roughly Rs 712 crores), it stated on Wednesday. Ericsson stated the settlement would influence working revenue (EBIT) by 80 million euros and cashflow by 26 million euros within the second quarter. “The quantity displays uncertainty, threat, expense, and potential distraction from enterprise focus related to a probably prolonged and sophisticated litigation,” it said in a statement.
The Swedish company added that the remainder of the settlement amount would be made in similar installments in 2022 and 2023 respectively, impacting cash-flow.
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