09:27 AM EDT, 09/20/2024 (MT Newswires) -- A German court has ruled that Amazon.com ( AMZN ) is using Nokia's ( NOK ) patented video technology in its streaming devices without obtaining the necessary license, Reuters reported on Friday, citing a statement from the Finnish company.

"The Munich Regional Court in Germany has ruled that Amazon ( AMZN ) is using Nokia's ( NOK ) patented video-related technologies in its end-user streaming devices and is selling them illegally without a license," the report quoted Nokia's ( NOK ) chief licensing officer, Arvin Patel, as saying in a statement.

Amazon ( AMZN ) said it disagrees with the court's decision and that it is "confident" this situation will be resolved soon.

"This ruling will not affect any existing customers and a wide selection of Fire TV devices will continue to be available on Amazon ( AMZN )," an Amazon ( AMZN ) spokesperson said in an emailed statement to MT Newswires. "We're disappointed that Nokia ( NOK ) is taking these actions and trying to limit options for customers. We're always willing to pay a fair price for patent licenses."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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