Qualcomm Ordered to Pay $173M In Patent Infringement CaseFriday, October 25, 2013
A federal jury ordered Qualcomm Inc. to pay a Jacksonville, Fla.-based chipmaker $173 million in damages for patent infringement, according to the Florida business, ParkerVision Inc.
ParkerVision (Nasdaq: PRKR) said the jury found that Qualcomm (Nasdaq: QCOM) infringed on 11 claims in four patents, related to radio frequency semiconductors, held by ParkerVision. The federal jury in Orlando found that the infringement was not willful.
“We are of course disappointed by the award of damages,” said Christine Trimble, Qualcomm’s vice president for public affairs. “We are grateful for the jury’s hard work throughout this trial and for the verdict of no willfulness. We will direct our efforts towards addressing the post-trial process and preparing our appeal.”
“Overall, this is a significant win for ParkerVision, proving that our technologies have a meaningful place in the wireless market,” said Jeffrey Parker, CEO of ParkerVision.
ParkerVision said the judge in the case has yet to decide on ParkerVision’s request for an injunction against Qualcomm.
Shares of ParkerVision lost nearly 60 percent of their value on the day the damage award was announced, closing at $2.90. Qualcomm shares closed at $66.94, down 10 cents from the previous day’s close.
— SDBJ Staff Report