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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Lenovo Group Limited    992   HK0992009065

LENOVO GROUP LIMITED

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Nokia seeks to block Lenovo sales in Germany over patent licensing

10/20/2020 | 10:37am EST
FILE PHOTO: A Nokia logo is seen at the company's headquarters in Espoo, Finland

STOCKHOLM (Reuters) - Nokia on Tuesday sought to enforce an injunction against Lenovo, the world's biggest PC maker, to block sales of its products in Germany after violation of a video encoding patent.

A Munich court ruled on Sept. 30 that Hong Kong-listed Lenovo infringed one of Nokia's patents, ordered an injunction and a recall of products from retailers, among other things.

Nokia launched its legal battle against Lenovo last year over alleged infringement of 20 patents. The Finnish company has ongoing cases against Lenovo in the United States, Brazil and India, in addition to six cases in Germany.

Lenovo has appealed against the Munich court ruling.

"We believe Nokia has violated its own legal obligations by refusing to license its technology on Fair Reasonable and Non-Discriminatory (FRAND) terms to either Lenovo or our third-party suppliers whose parts include H.264 technology," a Lenovo statement said.

H.264 technology is a video compression format widely used in smartphones and computers. Nokia has previously sued Apple for infringing its patents and received https://techcrunch.com/2017/07/28/apple-paid-nokia-2-billion-as-part-of-a-patent-lawsuit-settlement $2 billion in settlement in 2017.

The Munich court, the judgment of which applies only to Germany, rejected Lenovo's assertion that Nokia had not complied with FRAND obligations.

Nokia said that Lenovo has been unwilling to enter discussions, and can resolve the matter by accepting its responsibilities and agreeing a licence on fair terms.

"Nokia is demanding a highly-inflated global royalty rate that is more than 50 times what Lenovo believes is reasonable and appropriate," a source at Lenovo said.

A Nokia spokesman declined to disclose financial details.

(Reporting by Supantha Mukherjee in Stockholm; Editing by David Goodman)

By Supantha Mukherjee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 3.08% 122.72 Delayed Quote.62.17%
EURO / BRAZILIAN REAL (EUR/BRL) 0.10% 6.3131 Delayed Quote.41.18%
LENOVO GROUP LIMITED -4.49% 5.53 End-of-day quote.5.74%
NOKIA OYJ -0.33% 3.3365 Delayed Quote.1.56%
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Financials (USD)
Sales 2021 54 262 M - -
Net income 2021 871 M - -
Net Debt 2021 527 M - -
P/E ratio 2021 9,85x
Yield 2021 4,88%
Capitalization 8 649 M 8 648 M -
EV / Sales 2021 0,17x
EV / Sales 2022 0,15x
Nbr of Employees 63 000
Free-Float 58,2%
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Lenovo Group Limited Technical Analysis Chart | 992 | HK0992009065 | MarketScreener
Technical analysis trends LENOVO GROUP LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 19
Average target price 0,82 $
Last Close Price 0,72 $
Spread / Highest target 47,0%
Spread / Average Target 14,1%
Spread / Lowest Target -15,8%
EPS Revisions
Managers
NameTitle
Yuan Qing Yang Chairman & Chief Executive Officer
Gianfranco Lanci President & Chief Operating Officer
Wai Ming Wong Chief Financial Officer & Executive Vice President
Arthur Hu Chief Information Officer & Senior Vice President
Yong Rui Chief Technology Officer & Senior Vice President
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