Nintendo has announced that it has entered into a global patent license agreement with Philips, ending patent invalidity proceedings brought against Philips by Nintendo in multiple countries, as well as patent infringement proceedings brought by Philips against Nintendo.

The agreement means that Nintendo and Philips will cross license portions of each company's patent portfolio.

"We are pleased to have reached agreement with Philips, as it demonstrates that both companies recognise the importance of intellectual property rights," said Martina Franke, European General Counsel of Nintendo of Europe. "Nintendo has a substantial IP portfolio and a long history of developing innovative products while respecting valid intellectual property rights of others."

The financial terms of the agreement will not be disclosed.

Source: Nintendo

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