Can HTC Harm Nokia Corporation (NYSE:NOK)?

Posted by George Brook October 3, 2013 0 Comment 1246 views

Nokia Corporation (NYSE:NOK) won the United States preliminary court-order against HTC. This has increased the possibility of the latter’s products being banned from being imported into the country. The U.S is a major overseas market for the Taiwanese company. As a result, the company has now begun working with Qualcomm to find some methods to modify a certain component that is used in its flagship device as well as other devices that it might be launching.

The ITC judge said on September 23 that the Taiwanese company had breached 2 of Nokia Corporation (NYSE:NOK)’s radio-related patents. These components enhance reception and transmission in the handsets. As per the filing that Nokia had put forth, the chip that had patent protection is a Qualcomm product.

The older HTC handsets had been listed in this lawsuit. However, if the ITC decides to uphold its initial ruling, in January, HTC will have to modify the chip, not only in the HTC One but in other devices that use the same technology. This is not the only case in which Nokia Corporation (NYSE:NOK) is suing its Taiwanese rival. The company has filed various other suits across the globe, against the company. In separate lawsuits, Apple is another company that has targeted HTC against patent infringement.

Wednesday’s trading

In Wednesday’s trading, Nokia Corporation (NYSE:NOK) rose by 0.15%. The shares opened at a price of $6.69, which was also the intraday high and dipped to a close of $6.63. Approximately 45.03 million shares were traded on Wednesday while an average volume of 65.07 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $2.52 and its 52-week high is $6.78. The company has a market capitalization of $24.83 billion.

Nokia Corporation (NYSE:NOK) has 3 business segments: 1) Devices & Services; 2) NAVTEQ, and 3) Nokia Siemens Networks. Devices & Services is in charge of developing and managing its portfolio of mobile-products

About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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