Nanoco Lawsuit Against Samsung Starts on January 6 in US

Nanoco Group PLC confirmed on Tuesday that its patent infringement lawsuit against Samsung Electronics Co will begin early in January in the US.

The Manchester-based quantum dots manufacturer claims that Samsung infringed on its unique synthesis and resin capabilities for quantum dots. Quantum dot technology is used on Samsung QLED televisions. QLED stands for quantum light-emitting diode.

Nanoco is also pursuing lawsuits against the South Korean electronics giant in German and China.

The group said it had a "firm" date of January 6 for the start of its trial against Samsung in the Eastern District of Texas.

The trial is expected to last one working week, the company said.

It added that the jury will deliver a verdict on whether Samsung had infringed its intellectual property, and if any infringement was deliberate.

The jury, it continued, will make finding on the value of any damages award for sales of infringing units up to the date of the trial, and if a future "running" royalty should also be awarded, Nanoco said in a statement on Tuesday.

Nanoco filed its patent infringement lawsuit against Samsung in Texas back in February 2020.

In a separate legal process, the US Patent Trial & Appeal Board in May ruled in favour of Nanoco's patent claims against Samsung.

Last month, Samsung appealed against the findings of the Patent Trial & Appeal Board. Nanoco expects the final outcome to the appeals in third quarter of calendar year 2023.

On Tuesday, Nanoco said it remained confident that both the organic business and the litigation were sources of potentially significant shareholder value that would be transformative for its prospects.

In a trading update, Nanoco also said on Tuesday its financial performance for the first four months of its financial year ending July 31 had been "comfortably in line with" its expectations.

It said it had a high level of confidence that it will receive sensing-application production orders in calendar year 2023, based on its visibility of customer final validation plans.

Nanoco shares were down 0.7% at 39.40 pence each on Tuesday in London, while Samsung shares ended 1.5% lower to KRW58,600.00 each in Busan on Tuesday.

Source: morningstar.co.uk-Artwell Dlamini

Editor: IPR Daily-Ann