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Yesterday, Microsoft and Canon announced a new broad patent cross-licensing agreement, which will essentially grant the two giant companies licenses to each others patent portfolios.

While Microsoft and Canon have been known to partner up in the past, this time around the situation looks pretty different. There’s a number of reasons this agreement took place, and the top possibilities revolve around the mobile industry. Microsoft and Canon may not have disclosed the terms of the agreement, but they did mention that “certain digital imaging and mobile consumer products have been included in the agreement.”

With Microsoft’s recent business ventures with Nokia, the patent agreement may very well be the beginning of an involvement by Canon in Nokia’s Windows Phone line. With how heavily focused the mobile company is on its smartphone cameras in the Lumia line, Canon would be a great company to get support from.