03:36 AM EDT, 07/15/2024 (MT Newswires) -- Ericsson (ERIC) said Monday it signed a multi-year cross-license deal with smartphone manufacturer OPPO covering patents related to cellular technologies, including 5G.

Under the deal, the Swedish technology company will receive royalty payments from OPPO.

Ericsson said the financial benefits of the agreement are already reflected in its Q2 financial results.

Additionally, the companies agreed to cooperate on 5G-related projects such as device testing and marketing.

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