Nokia Unloads Qt, 500 Patents in Asset Garage Sale

Back in June, Nokia said it would unload some non-core assets as part of a massive corporate restructuring. Today, the company delivered on that pledge, selling off its Qt software business and hundreds of wireless patents as well.

Finnish software services outfit Digia, which acquired a portion of Qt about a year ago, has agreed to purchase the remainder of the mobile application development framework business.

Price? That’s undisclosed. But sources familiar with the deal say it’s “nowhere near” the $150 million that Nokia paid for Qt in 2008. But it’s something, and now that Nokia has cast its lot with Microsoft’s Windows Phone, it doesn’t have much need for Qt, whose cross-platform application development framework was intended for its now-abandoned Symbian and MeeGo operating systems.

In a separate transaction also announced this morning, Nokia is selling some 500 wireless patents to video-ringtone company Vringo. The patents cover a broad range of cellular infrastructure tech, and 31 of them are said to be standards-essential. Vringo paid about $22 million for the portfolio, and could end up paying Nokia even more if the patents generate more than $22 million in revenue.

For Nokia, which is struggling to right itself after stumbling badly in the handset market, the proceeds from these two transactions will help shore up its finances as it prepares to release a new line of smartphones running Microsoft’s Windows Phone 8 OS.

Via: ATD

Prateek Panda

Prateek is the Founder of TheTechPanda. He's passionate about technology startups and entrepreneurship and enjoys speaking to new founders every day. Prateek has also been consistently regarded as one of the top marketing experts in the region.

Recent Posts

The AI-driven CFO: How Artificial Intelligence is redefining financial leadership in the tech era

The Chief Financial Officer (CFO) is no longer the only one responsible for budgets and…

18 hours ago

From Roblox to Python: How game development educates kids on AI principles

AI is no longer in the distant future, discussed only in university classrooms or interactive…

3 days ago

M&A: The art of the deal

The Tech Panda takes a look at recent mergers and acquisitions within various tech ecosystems…

5 days ago

As we seek to create robots that’re more ‘human’ who’s helping? AI

As robotics progresses towards creating humanoid robot helpers, our tendency is to create them in…

1 week ago

Japan’s Web3 Strategy: A Safe Haven for Chinese Investors Fleeing Capital Controls?

On June 7, 2025, Japan enacted a series of regulations aimed at enabling stronger consumer protections…

1 week ago

Agentic AI Is Reshaping Data Infrastructure—Are Data Warehouses Obsolete?

Introduction: The Signal Behind Snowflake’s CEO Change In the spring of 2024, Snowflake, a star…

1 week ago