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Xiaomi enters patent infringement dispute with rival Coolpad

IANS  |  Beijing 

As it prepares to file an initial public offering (IPO) in Hong Kong, has been named in a patent dispute in by its rival for three successful models -- Mi Mix 2, and Redmi 5 Plus.

In a regulatory filing, Hong Kong-listed Coolpad's Yulong unit has initiated a patent infringement case against with the Jiangsu Province Nanjing Intermediate People's Court, the Morning Post reported on Friday.

"Beijing-based has requested the Patent Re-examination Board, under (SIPO), to invalidate three patent rights that had claimed were infringed by the world's fourth-largest supplier," the report added.

The complaint alleged that Xiaomi had used the patents without any license from Yulong.

also requested the court to order Xiaomi to pay "for the economic loss suffered" by Yulong and all litigation expenses.

According to a Xiaomi statement, it was made aware of the Yulong lawsuit after Coolpad filed a motion before the Intermediate People's Court regarding the alleged patent infringements.

The lawsuit comes at a time when Xiaomi has officially filed for an IPO in Hong Kong that aims to raise $10 billion in a sale that may value the company at $100 billion.

At $10 billion, Xiaomi's IPO would also be the 15th biggest of all time, or the fourth-largest in Hong Kong.

According to the regulatory filing with the Hong Kong stock exchange, Xiaomi also reported a revenue of $18 billion and a gross profit of $2.3 billion in 2017.

The company is currently at the fourth position in the market globally, behind Samsung, and

In the first quarter of 2018, Xiaomi with over 51 per cent growth was at fifth spot in China, Counterpoint Research reported. Xiaomi was the fastest growing brand in during the quarter.

On the other hand, Coolpad is set to make a comeback with a new line-up of and accessories for the Indian market.

In January, the Shenzhen-based handset maker bid adieu to its financially-troubled Chinese partner

It later announced a fresh investment of $300 million from Power Sun Ventures, a family trust. Chinese property mogul Chen Hua, Founder, and of the Kingkey Group, is leading the new investment through

--IANS

na/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 12 2018. 14:54 IST
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