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HTC shares tumble after company infringes on Apple’s patents

Updated Dec 19th, 2018 7:21PM EST

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Shares of HTC’s stock closed down 3.9% at T$871 on Monday, just three days after the the U.S. International Trade Commission announced that the Taiwanese company was guilty of infringing on two of Apple’s patents. The patents were related to a “system and method for performing an action on a structure in computer-generated data,” and a “real-time signal processing system for serially transmitted data,” but the judge’s ruling is still awaiting the review of a 6-member Commission. “We are highly confident we have a strong case for the ITC appeals process and are fully prepared to defend ourselves using all means possible,” HTC’s general council Grace Lei said on Friday “We strongly believe we have alternate solutions in place for the issues raised by Apple. We look forward to resolving this case, so we can continue creating the most innovative mobile experiences for consumers.” HTC also has an ongoing patent lawsuit against Apple. The Financial Times attributed the sell-off to “investor fears that the legal battle could have wider implications for the competitive balance between Apple and Google Android-based phonemakers like HTC, Samsung, and Motorola.”

[Via 9to5 Mac]