Apple Ordered to Pay $502M in Patent Dispute With Optis; Stock Flat
Apple (NASDAQ:AAPL) was ordered to pay $502 million in a long-running legal battle over 4G technology patents, according to a Thursday ruling by the UK's Court of Appeal.
The dispute stems from claims by U.S.-based Optis Cellular Technology that Apple used its standard-essential 4G patents without proper licensing in iPhones and iPads. The case, originally filed in 2019, has gone through multiple rulings, with a 2022 High Court decision finding Apple infringed on two patents.
The new judgment overturns a previous UK court ruling that had awarded Optis $56.4 million. The updated amount covers global usage of Optis' patents from 2013 to 2027, excluding interest.
Apple said it would appeal, calling Optis a company that "makes no products and their sole business is to sue companies using patents they buy. Optis responded by saying the decision corrected a flawed ruling and acknowledged the true value of its patents.
Shares of Apple edged 0.2% lower in Thursday trading, showing little reaction to the court's decision.
Apple has faced several similar lawsuits globally as regulators tighten scrutiny around standard-essential patent licensing.
This article first appeared on GuruFocus.
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