Under the agreement announced on Tuesday, Intel will buy intellectual property from Nokia related to high-speed wireless technology and the companies also said they plan to collaborate on open-source mobile Linux software projects.
They did not give a specific timeline for the development of products but said they expect many innovations to result from this collaboration over time.
The companies said they aimed to define a new mobile platform beyond today's smartphones, notebooks and netbooks for hardware, software and mobile Internet services.
Intel already sells chips for netbooks, a type of no-frills laptop computer, and Nokia has said it would look into the possibly of expanding beyond phones to develop netbooks.
(Reporting by Sinead Carew; Editing by Tim Dobbyn)