Ericsson and Oppo have signed a multi-year global patent cross licensing agreement. The transaction includes a cross license covering patents crucial to cellular technology standards, including 5G, and Oppo will pay Ericsson patent royalties. In addition to cross licensing, Oppo and Ericsson will also collaborate on some 5G related projects, including equipment testing, customer interaction, and marketing activities. Ericsson stated that the financial benefits of the agreement have been reflected in the financial performance for the second quarter of 2024.