Seoul Semiconductor: Philips Lighting Products Ordered to Recall 7-Year-Old Items [Yahoo! Finance]
MITSUBISHI CH GRP U/ADR (MTLHY)
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Source: Yahoo! Finance
SEOUL, South Korea, December 26, 2024 BUSINESS WIRE )--The German District Court of Düsseldorf, on November 19 ruled in favor of Seoul Semiconductor (KOSDAQ:046890) in the patent infringement lawsuits, and also ordered that products manufactured by Philips Lighting and sold since March 2017 be recalled and destroyed. The Court also ruled that a fine of up to €250,000 would be imposed for each violation of this order. On December 17, the German Federal Patent Court also affirmed the validity of these patents, which solidifies the strength of many related patents. These court orders relate to the core technology used to achieve CRI 70 (Color Rendering Index 70%) or higher, applicable to all home lighting, automotive lighting products, IT flash, and backlights. Since the effects of these judgments are applicable to all products infringing on the patented technology, it is expected to have a ripple effect on markets worth over $100 billion for finished goods and over $10 billion for pa
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