Nokia and Kodak have entered an agreement which will allow both companies to share access into each others' patent portfolio. This means that the two companies will be allowed to see into each others' technology and research papers.

Such partnership could fuel development, and even result into a combined effort or deal for a mobile phone camera. Nokia could potentially be preparing a phone which will feature a camera fabricated by Kodak.

Kodak is currently partnered with Motorola, for whom it produces mobile phone cameras, for phones such as the ZN5. Nokia has already got a big name in the industry working with them, which is Carl Zeiss, while Sony Ericsson has the Cyber-shot reputation to them. LG has included Schneider-Kreuznach lens in their phones, while Samsung has its brand on the camera, which has a reputation of its own.

Press release after the break.

[via Mobile Burn]

ROCHESTER, N.Y.--(BUSINESS WIRE)--Eastman Kodak Company (NYSE:EK) today announced that it entered into a patent license agreement earlier this month with Nokia Corporation that will allow each company access to the other's intellectual property portfolio.

The license agreement, which provides significant benefits to both companies, is royalty bearing to Kodak. Additional financial terms were not disclosed.

"We are pleased to have reached a mutually beneficial arrangement that advances the interests of Kodak and Nokia and validates the strength of Kodak's intellectual property portfolio," said Laura G. Quatela, Chief Intellectual Property Officer, and Vice President, Eastman Kodak Company. "We look forward to continued collaboration with Nokia."