Finland's Nokia said on Wednesday it had signed a multi-year patent license agreement with Samsung , for the use of Nokia's video technologies in the South Korean company's televisions. Under the agreement,

Shares of Nokia Corp. (NOK) surged nearly 2% in pre-market trade on Wednesday after the Finnish tech giant signed a multi-year patent deal with Samsung. The deal covers the use of Nokia’s video technologies in Samsung televisions.

Worldwide smartphone sales grew in 2024 following two consecutive years of decline according to reports from Counterpoint, Canalys, and IDC. The bulk of the growth came from Chinese manufacturers including Xiaomi and Vivo, though Apple and Samsung are still holding strong as the undisputed market leaders.

Apple and Samsung, the world’s top two smartphone makers, saw their global market shares decline last year, marking the first such drop in eight years since 2016. According to market researcher IDC on Jan.

In 2024, the global smartphone market saw growth for the first time in two years. While Apple and Samsung faced declines, Xiaomi emerged as the fastest-growing brand among the top players.