Apple Files second Patent Infringement Complaint against HTC – Shares Drop
Its only been a couple of months and Apple has slammed HTC with the second patent infringement case. The US International Trade Commission is reporting that HTC is being accused and is being asked to stop the import of “personal electronic devices”. Last year, Apple filed a separate action against HTC with the U.S. International Trade Commission, where HTC then leveled its own patent infringement claims against Apple. Preliminary rulings for those cases are expected this week.
Shares in the world’s No.5 handset maker, HTC Corp (2498.TW), tumbled more than 4 percent on Tuesday, after Apple Inc (AAPL.O) sued the company in a fresh complaint with a U.S. trade panel.
HTC said its net profit doubled in the second quarter, beating market expectations. But analysts suggested that because the operating income tracked forecasts, they expected shares of HTC would consolidate before the investor conference at the end of this month, when the company gives guidance for the third quarter. There are rumours out there that HTC would need to pay Apple T$20 billion ($693.64 million) in compensation.
That would lower down profit expectations considerably.