Sunday, February 07, 2016 9:05:48 AM
We saw in ZTE internal emails that there were "numerous" chinese companies infringing.
We see from the recent PR that they are in discussions with multiple parties on the SEP patents.
Now, will they get a deal done? That is the big question. We had hoped for one with DTV and now its going the court route (although hopefully DTV took notice of the VHC situation and re-considers, but I doubt it).
As I have said in the past, the advantage VRNG now has at least in China on the ZTE/SEP patents is:
A) They have a precedent/proxy deal that while material to us, won't be material to very large companies (kind of sucks that we didn't get a huge deal but this makes getting other deals done much easier). If it costs us less to get multiple other deals done, ZTE is what you would call a 'loss leader', leads to more money and worth the cost in the end.
B) The Chinese government was heavily involved in this (via their ownership of ZTE, anti trust etc etc). Given they have now 'stamped this deal' it means other chinese infringers 'should' be easier to deal with and hopefully will simply be lining up to get their deals done. Effectively, the Chinese government endorsed these patents and the deal. As we all know, even if you aren't state owned in China, the Gov't still has its hands in everything, in our view this is something that shouldn't be ignored!
Let's hope we see some movement on this in the near term! A surprise 8k with another $30-40 mil would do this stock wonders!
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