Shares in the world’s No.5 handset maker, HTC Corp (2498.TW), tumbled more than 4 percent on Tuesday, after Apple Inc (AAPL.O) sued the company in a fresh complaint with a U.S. trade panel. [ID:nN1E76A11V]
Fund managers said investors sold off HTC in a market that was already reacting to unconfirmed speculation.
“There are rumours out there that HTC would need to pay Apple T$20 billion ($693.64 million) in compensation, but the truth is the preliminary determination of the lawsuit shouldn’t involve any monetary compensation.”
said Mike Fang, a fund manager of Paradigm Asset Management Co.
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HTC down after Apple’s new patent lawsuit | Reuters.