Nokia, a Finnish telecom gear maker recently said that it had signed a 5G patent cross-licensing deal with Oppo, a Chinese device maker company. The deal resolves patent litigation between the companies.

Nokia has been involved in legal disputes with several Chinese tech firms, including Oppo and Vivo, over patent payments. The Finnish group recently signed an agreement with Chinese smartphone maker Honor.

"Under the agreement Oppo will make royalty payments, along with catch-up payments to cover the periods of non-payment," Nokia said in a statement. "The agreement resolves all pending patent litigation between the parties, in all jurisdictions."

OP Corporate Bank analyst Kimmo Stenvall said investors had expected the parties to reach an agreement "sooner or later".