HTC Falls After Apple Wins Samsung Patent Verdict: Taipei Mover
HTC Corp. (2498), the world’s second- largest maker of smartphones using Google Inc. (GOOG)’s Android system, fell in Taipei trading after Apple Inc. (AAPL) won a patent infringement case against Samsung Electronics Co.
HTC dropped as much as 3.2 percent, the most in a week, to NT$254.00 before trading at NT$255.50 as of 10:06 a.m. local time. The benchmark Taiex (TWSE) index fell 0.2 percent.
A U.S. jury found that Samsung, the world’s largest maker of Android-based phones, breached six of seven patents Apple held for technology used in mobile devices and ordered the South Korean company to pay more than $1 billion. Apple has also accused HTC of infringing its patents, with suits pending in U.S. courts and an International Trade Commission case scheduled to release findings Nov. 7.
“The Samsung/Apple case also suggests that HTC’s upcoming (initial) ruling on Nov. 7 could be a tough battle for HTC,” Jeff Pu, an analyst at Fubon Financial Holding Co. in Taipei, wrote today. He rates HTC reduce.
Samsung, which said it will file post-verdict motions to overturn the decision, dropped as much as 7.7 percent in Seoul trading today.
To contact the reporter on this story: Tim Culpan in Taipei at firstname.lastname@example.org.