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Canon and Microsoft Patent Cross-Licensing Agreement surfaced over the web, according to the agreement both company will use each other technologies for upcoming future products.

I believe Canon will possibly launch a Windows mobile OS based powershot N models in future and Microsoft will use Canon high-end technologies ( may be Dualpixel AF CMOS sensor?) in upcoming flagship Lumia Phones.

Press Release by Microsoft USA

REDMOND, Wash., and TOKYO — July 2, 2014 — Microsoft Corp. and Canon Inc. on Wednesday broadened their strategic alliance with the announcement of a broad patent cross-licensing agreement. With this agreement, Microsoft and Canon gain licenses to each other’s highly valued and growing patent portfolios.

“This collaborative approach with Canon allows us to deliver inventive technologies that benefit consumers around the world,” said Nick Psyhogeos, general manager, associate general counsel, IP Licensing of the Innovation and Intellectual Property Group at Microsoft. “Microsoft believes cooperative licensing is an effective way to accelerate innovation while reducing patent disputes.”

This agreement covers a broad range of products and services each company offers, including certain digital imaging and mobile consumer products. Microsoft and Canon have a long history of collaborating to bring high-quality, cutting-edge products to consumers, including color technology. Contents of the agreement will not be disclosed.

“This agreement is a natural extension of our longstanding relationship with Microsoft and commitment to developing innovative technologies,” said Hideki Sanatake, senior general manager, Corporate Intellectual Property & Legal Headquarters of Canon Inc.