Thursday, July 10, 2014

Beijing Court Rules Against Apple in Patent Claims (AAPL)

On Wednesday morning, reports were released that Apple Inc. (AAPL) has been ruled against in a Chinese court regarding a speech recognition technology patent.

After Apple took Shanghai-based Zhizhen Internet Technology and China’s State Intellectual Property Office to court regarding patent rights to a speech recognition technology, a Beijing court ruled against Apple’s claim. Apple reported that it now intends on taking the issue to the Beijing Higher People’s Court.

A spokesperson for Apple commented: “Unfortunately, we were not aware of Zhizhen’s patent before we introduced Siri (speech recognition technology) and we do not believe we are using this patent.”

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As of Market Close on July 8, 2014

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Apple shares were mostly flat during pre-market trading Wednesday. The stock is up 18.96% YTD.

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