Hon Hai sells some of its patents to Google
April 28, 2014, 12:05 am TWN
TAIPEI -- Hon Hai Precision Industry Co., the world's largest contract electronics maker, said Friday that it has sold “a number of communications technology patents” to U.S. high-tech giant Google Inc.
In a statement, Hon Hai said the sale was part of its strategy to maximize the value of its intellectual property portfolio.
The intangible assets were sold through U.S.-based MiiCs & Partners, which specializes in assisting clients to design, develop and manage intellectual property programs and portfolios and package them for sale or license.
Hon Hai did not disclose the financial terms or other details about the transaction.
It said it remained committed to investing in technology research and development and transforming such investments into valuable intellectual property assets.
The company said it has retained MiiCs & Partners to help it map out intellectual property development strategies and monetize the assets.
So far, Hon Hai has applied for more than 128,400 patent applications worldwide and been granted more than 64,300 patents.
In Taiwan, Hon Hai ranked as the largest patent applicant in 2013, filing a total of 3,086 patent applications.
Despite the patent sale, shares of Hon Hai fell 1.81 percent to close at NT$87.00 (US$2.87) in line with the broader market, which was haunted by uncertainty over the fate of the fourth nuclear power plant to end down 1.91 percent.
Market analysts said many investors have turned cautious about the stock and are watching closely for Hon Hai's first quarter results during the current earnings season, which ends May 15.