After a period of litigations, Apple and Nokia have finally solved their patent disputes outside of the court room, reaching an understanding. This agreement requires Apple to pay a one time amount to Nokia and continue with royalties for the period of the agreement. No specific terms of the understanding were disclosed.

Stephen Elop, Nokia’s CEO seems pleased with the deal and he claims this is a proof of the Nordic company’s leading patent portofolio. This is certainly good news for the Finns, who are having the worst time of the company’s history, with huge stock value plunges and market share decreases. Now, with the Apple payment, they’ll revise the outlook for Q2 2011, turning it into a more profitable one.

This is also an occasion to be reminded that Nokia has two decades of R & D behind with 43 billion euros invested in the process no less than 10,000 patent families achieved.