HTC celebrates Britain's patent ruling against Apple
The China Post news staff and CNAHTC Corp. hailed a victory over its archrival yesterday after a London court ruled that the Taiwanese smartphone vendor has not infringed on any patents belonging to Apple Inc.
July 6, 2012, 12:57 am TWN
“HTC is pleased with the ruling, which provides further confirmation that Apple's claims against HTC are without merit,” the Taoyuan-based company told CNA.
“We remain disappointed that Apple continues to favor competition in the courtroom over competition in the marketplace,” HTC said.
England's High Court of Justice ruled a day earlier that three of four patents claimed by Apple to have been infringed upon by HTC were invalid, and that HTC did not infringe upon the fourth.
The market had hoped the news would give HTC's stock a boost yesterday, its ex-dividend day. Yet the stock closed lower, despite earlier gains, amid the TAIEX's 34.81 fall.
Ex-dividend is when a stock's price reduces by the same margin as its dividends distribution. HTC has decided to disburse cash dividends of NT$40 a share. It closed at NT$397 Wednesday. Yesterday, it opened at its ex-dividend price of NT$357 and had at one point surged NT$9.5 to NT$366.5.
Yet, with the TAIEX descending into the negative territory at the end of trade, HTC also declined and closed below NT$340, at NT$339.5.
This week has seen several stocks having their ex-right and ex-dividend. Among the most watched ones were HTC, which was to distribute NT$33.2 billion worth of cash dividends to shareholders, as well as Taiwan Semiconductor Manufacturing Co. and Yulon-Nissan, which were to farm out cash dividends of NT$77.7 billion and NT$3.06 billion, respectively.
Yesterday alone, 20 publicly traded firms had their ex-right and ex-dividend, including HTC and Yulon-Nissan, the latter of which gave a stronger performance and closed at NT$252.5, which was NT$1.5 shy of filling the price gap after the ex-dividend.