Nintendo shares fall after guilty patent infringement verdict
Having recently jumped by eight per cent, Nintendo’s shares have now taken a slight tumble after the company was found guilty of patent infringement.
Their share price dipped by 2.70 per cent, having been ordered to pay $30.2 million in compensatory damages.
Nintendo had been sued by ex-Sony employee Seijiro Tomita, for breaching a pending patent that related to the use of 3D imagery without the need for glasses.
Whilst Nintendo argued that it didn’t use key aspects of the patent, their meeting with Tomita being one of several, the jury still found them guilty.
Nintendo of America yesterday responded to the verdict in a statement, writing “Nintendo is confident that the result will be set aside. The jury’s verdict will not impact Nintendo’s continued sales in the United States of its highly acclaimed line of video game hardware, software and accessories, including the Nintendo 3DS.
“Nintendo has a long history of developing innovative products while respecting the intellectual property rights of others.”