Transsion shares fall after facing Qualcomm lawsuit in India
Jul.15,2024

Asia Tech Wire (July 15) -- Shares of Chinese smartphone maker Transsion (688036.SH) are down after facing a Qualcomm lawsuit in India.

As of the midday break on Monday, shares of Shenzhen Transsion Holdings Co Ltd fell 6.55% to 74.13 yuan.

Earlier, news broke that Qualcomm sued Transsion in India's Delhi High Court for infringing four of its non-standard essential patents.

Qualcomm confirmed it was filing a legal case against Transsion in India, and said the smartphone maker had been refusing to fully access its license.

The company alleged that Transsion is still infringing on its valuable patent portfolio with the vast majority of its products still unlicensed by the company.

In response, Transsion pointed out that some patentees have sought excessive license fees that do not fully comply with the principles of fairness, reasonableness and non-discrimination.

Transsion's sales network covers more than 70 countries in emerging markets such as Africa and South Asia, and India is one of the relatively important markets in its global layout.

Transsion said on Monday that it has signed a 5G standard patent license agreement with Qualcomm and is fulfilling it.

At the same time, the Chinese smartphone maker disclosed that it has not reached agreements with Qualcomm on 3G, 4G and other patents, so it will continue to negotiate to determine a reasonable license fee.

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