Nokia, China's Xiaomi sign patent deal

Telecoms network equipment maker Nokia and Chinese handset maker Xiaomi Technology have signed a patent licensing agreement, the companies said on Wednesday.

The agreement includes a cross license to each company's cellular standard patents. Nokia will also provide network infrastructure equipment to Xiaomi.

"Xiaomi is one of the world's leading smartphone manufacturers and we are delighted to have reached an agreement with them," Nokia Chief Executive Rajeev Suri said in a statement.

The companies didn't provide financial details of the agreement.