RIM Sued Over Patent Infringement, Stock Sinks 10%

Posted by Knowlton Thomas

After a modest rally following a quarterly earnings report that hinted at partnerships and the potential for an acquisition, RIM's stock has once again sunk deep into the abyss. Following a freshly announced lawsuit from Dutch semiconductor company NXP, the Waterloo BlackBerry maker's share price plunged nearly 10%.

NXP says that RIM's BlackBerry smartphones and its PlayBook tablet infringe on multiple patents that NXP has owned as early as 1997. Relating primarily to design and data transmission patents,  NXP demands a halt to the infringements and seeks to recover lost profit, royalties, and triple damages for willful infringements. No dollar value has yet been revealed.

This could be the most serious patent litigation the beleaguered company has faced since 2001, when patent holding company NTP nearly crushed RIM with the weight of a major lawsuit. RIM ended up handing over a whopping $600 million to NTP to settle the case.

RIM has declined to comment, citing a policy of not discussing litigation. 

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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