Alcatel sues Apple
A case opens today in a court in San Diego in which Alcatel-Lucent is suing Apple for around $200m
Alcatel-Lucent alleges that Apple infringed its video compression patents in iPods, iPhones, iPads and MacBooks going back to 2005.
Alcatel-Lucent is seeking ‘reasonable royalties’ for what would have been seven years of payments under a negotiated settlement which it estimates at just under $200m.
Alcatel-Lucent has been trying to make money from its patent portfolio, which has been estimated to be worth $9bn which is more than three times the company’s current market cap of $2.54bn.
Alcatel acquired 18,800 US patents when it bought Lucent for $13.4bn in 2006.
In 2000, Alcatel-Lucent’s market cap topped $110bn.
Last week Alcatel-Lucent went to Goldman Sachs for a loan following a cash burn of Euros 700m a year for the last six years, a number of asset sales and in the face of Euros 2bn of debt due over the next three years.