Nokia’s lawsuit against Apple over patent infringement on 10 wireless technologies appears to be a battle for pocket change.
Nokia (NOK) is looking to collect a 1%-2% patent royalty — worth around $6-$12 — off each iPhone sold, according to a note from Piper Jaffray’s Gene Munster.
Apple’s (AAPL) iPhone unit sales to date are around 34 million, so it would owe Nokia between $200-$400 million if Nokia is successful. Munster notes the $12 figure is unlikely.
For both of these companies, that’s a rounding error, and it makes Nokia look silly for trying to extract money from Apple while failing to build competitive products.
Nokia has apparently been talking to Apple about this for over a year now.