Nokia being sued for $17.7 billion by German company IP-Com
By Stefan Constantinescu on Thursday, January 31st, 2008 at 9:47 AM PST In Nokia
German company IP-Com is suing Finnish mobile telecommunications giant Nokia (NYSE: NOK) for $17.7 billion over 6 families of patents that were originally filed by Bosch. Fortress Investment Group which owns 50% of IP-Com is paying for the court case. Could this be out of spite for the recent decision to close the Bochum plant?
[Via: Cellular News]
Absolutely. You don’t keep many friends when they feel like you stabbed them in the back. All is usually considered fair game when it comes to business, but you have to be ready for the repercussions that follow.
Also, it seems like everyone wants a piece of the Nokia pie. I’m not surprised that this announcement has popped up shortly after declared its financial earnings!
$18 billion is huge! IP-Com is likely looking for a quick settlement with this lawsuit.
These patent-hoarding companies are starting to get out of hand.