Nokia said Friday it has entered into a new patent licensing agreement with Research In Motion, settling all existing litigation between the two smartphone markers.

The specific terms of the licensing deal were not disclosed, but Nokia said it will receive a one-time payment as well as ongoing payments from RIM.

"We are very pleased to have resolved our patent licensing issues with RIM and reached this new agreement, while maintaining Nokia's ability to protect our unique product differentiation," said Paul Melin, chief intellectual property officer at Nokia, in a statement. "This agreement demonstrates Nokia's industry-leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market."

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RIM did not immediately return a request for comment.

The new licensing agreement brings to a close the legal battles RIM and Nokia were waging in the U.S., U.K. and Canada. Nokia last month accused the BlackBerry maker of breaching a contract related to the use of its WLAN technologies.

The Finnish handset maker said it had signed a cross-licensing agreement with RIM in 2003, giving RIM the rights to use Nokia's standard-essential cellular patents, meaning those needed to meet certain industry standards, in its BlackBerry handsets. In 2011, RIM sought arbitration with the Stockholm Chamber of Commerce, arguing that the licensing agreement should be expanded to include Nokia's WLAN patents, which RIM claimed should be considered standard-essential.

Nokia, meanwhile, argued RIM should have to pay it royalties for the use of its WLAN patents. The Swedish arbitrator ultimately sided with Nokia, prompting the new agreement between the two companies.

The agreement could deal a blow to the already financially strapped RIM, which has seen a steady decline in its BlackBerry sales over the past year. The Waterloo, Ontario-based company has ceded much of its smartphone market share to rivals Apple and Google and is hanging high hopes on its upcoming BlackBerry 10 platform to reverse that trend.

Nokia faces its own share of struggles in the competitive smartphone market, with its Windows Phone-based handsets failing to lure consumers away from Apple's iPhone and Android-based devices. According to research firm IHS iSuppli, Nokia's share of the global smartphone market has plummeted over the past year; the Finnish handset maker captured a 5 percent share in 2012, compared to a 16 percent share in 2011.

Nokia said it has invested approximately $59.4 billion in R&D over the past 20 years, with 10,000 different patent families.

PUBLISHED DEC. 21, 2012