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Image Source : China Visual
BEIJING, September 14 (TMTPOST) — Shares of China"s LuxShare Precision (002475. SZ), a rival of Amphenol in electrical connectors, rose after the latest patent lawsuit in the United States with American connector maker Amphenol ended with no substantial impact on its business.
On Tuesday morning, LuxShare announced that the U.S. International Trade Commission (ITC) found that the patent infringement-related products were only a few of the last generation of direct exports to the United States. The products were no longer exported to the United States and the current products have been replaced by the current version; the other two products were found not to be infringing by the ITC.
Last Thursday local time, the ITC released a document showing that the "337 investigations" against Apple"s Foundry LuxShare had been concluded.
On December 18, 2020, U.S. electronics connector giant Amphenol (NYSE: APH) alleged that certain electrical connectors and cages, components thereof, and products containing the same sold in the United States by LuxShare Precision and its subsidiaries infringed five of its patents. The ITC filed an investigation in January 2021.
The "337 investigations" is derived from Section 337 of the U.S. Tariff Act of 1930, which provides that the ITC may initiate investigations and impose sanctions for unfair practices in import trade, including infringement of legally registered intellectual property rights in the U.S. and other unfair competitive practices in import trade.
LuxShare"s main business still focuses on the consumer electronics field. Its main business is to provide customers with connectors, motors, wireless charging, antennas, and many other components. The financial report shows that in the first half of 2022, LuxShare"s revenue in the consumer electronics field jumped 73.15% year-on-year to 69.946 billion yuan ($9.79 billion), with this part accounting for 85.34% of total revenue, up from 83.90% in the same period last year.
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