One of the controversial aspects of the current patent wars is the row over large vendors transferring IPR to smaller companies. Google has even brought accusations to the European Commission about the practice of "hiding behind patent trolls", as it alleges. This is not stopping the flow it seems. Nokia has sold a block of its patents to holding company Pendrell.

The Finnish firm has transferred large numbers of assets from its vast patent store to licensing companies in recent years. This latest sale consists of 125 patents and patent applications worldwide, 81 of which have been declared by Nokia to be essential to standards.

Pendrell has created a new wholly owned subsidiary, Helsinki Memory Technologies (HMT), to manage the IPR. Nokia will also receive a license to all of the patents as well as to new ones developed by HMT.

The assets relate to markets such as SD cards, and Nokia says the global market for the combined memory technologies in which its patents are relevant will be worth $12bn this year, while analysts forecast the market for SD cards alone will top $21bn in 2018.

"We are pleased that our patent sale to Pendrell has enabled the launch of Helsinki Memory Technologies here in Finland to continue the fundamental research and development work that Nokia has done over the past 15 years," commented Paul Melin, chief intellectual property officer for Nokia. "We expect that Pendrell's world class expertise in IP strategy and licensing will also create a meaningful path to further commercialization of these technologies, with proceeds enabling continuing investment in R&D by Helsinki Memory Technologies."

HMT's R&D program will be based in Finland and will be led by Kimmo Mylly, who previously led Nokia's memory technologies program. Terms of the transaction and contractual arrangements between the companies are not being disclosed.