Seoul Semiconductor saw a notable rise in its stock price following a favorable ruling in a European patent lawsuit.
In early Monday trading, shares of the South Korean LED technology giant jumped approximately 15%, reaching 10,080 won (around $7.47), marking its largest daily gain in over four years. Despite this, the broader tech-focused Kosdaq index, where Seoul Semiconductor is listed, saw a slight dip of 0.7%.
The victory came after the company secured a court decision in its favor against German online retailer Expert e-Commerce, leading to a ban on the sale of LED products infringing on its patented technology in eight European countries. The Unified Patent Court (UPC), established in June 2023 as a centralized European court for patent matters, ruled on October 10 that Expert e-Commerce must cease selling LED goods that violate Seoul Semiconductor’s patents, and also mandate the retrieval and destruction of any already sold items in the region.
The company has been engaged in multiple lawsuits against competitors and global retailers, alleging infringement on its patented technologies. Specifically, Seoul Semiconductor has accused several companies of violating its proprietary WICOP (Wafer Integrated Chip on Printed Circuit Board) technology, as well as other critical patents related to micro-LEDs for display products. These technologies are crucial for producing smaller, more efficient LED products.
Seoul Semiconductor, which has invested nearly $100 million annually in research and development over the past two decades, claims to hold over 18,000 patents, a testament to its ongoing innovation in the LED sector.
The company’s recent win is seen as a significant development, underscoring its strong position in the global LED market and its ongoing efforts to protect its technological advancements.
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