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Finnish telecommunications vendor Nokia has announced that it has signed a lucrative patent license agreement with Chinese consumer electronics behemoth OPPO.

OPPO, which is headquartered in Guangdong, is globally renowned for its innovative smartphones and was voted as the top smartphone manufacturer in China in 2016.

It has been disclosed that under the agreement, OPPO will make payments to Nokia for a multi-year license period. However, the terms of the agreement made between the two entities will remain confidential between the parties.

Nokia Chief Legal Officer and President of Nokia Technologies, Maria Varsellona, expressed her delight at the deal with the Chinese smartphone firm and said it further illustrated the benefits its global licensing program offers partners.

"OPPO is one of the leaders in the smartphone industry and we are pleased to welcome them as a Nokia licensee. This agreement further validates our global licensing program."