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Nokia Losses Mount
BY SVEN GRUNDBERG
STOCKHOLM—Nokia Corp., the world's biggest handset maker last year, reported heavy losses in the first quarter Thursday, saying it has faced greater than expected competitive challenges in its ongoing strategy overhaul.
The Finnish company said its operating loss for the three months to March 31 totaled €1.34 billion ($1.76 billion), from a €439 million profit a year ago, missing analysts' expectations for a €731 million loss by a wide margin.
Net loss was €929 million from a €344 million net profit for the same quarter last year, against expectations for a €554 million loss. Revenue dropped 29% to €7.35 billion.
After Hours trading
Time and Sales for InterDigital Inc. (IDCC) Apr 16, 2012
Symbol:
Time Price Volume Exchange
17:57:39 31.41 180 NGS
17:55:57 31.30 100 NYE
17:53:32 31.41 200 NGS
17:33:43 t 31.85 100 NGS
17:32:15 31.30 100 NYE
17:31:01 t 31.30 180 EDGX
17:29:02 31.30 100 NGS
17:29:02 31.30 130 NGS
17:29:02 31.30 400 NGS
17:29:02 31.37 150 NGS
17:29:02 31.57 130 NGS
16:44:58 31.85 1224 NDD
16:33:35 32.92 500 NDD
16:16:12 31.85 200 NYE
16:11:52 t 31.85 100 NYE
16:10:36 32.2556 2300 NDD
16:02:43 32.2685 200 NDD
16:02:02 32.2615 367 NDD
16:00:00 31.85 12239 NGS
AOL Said to Hire Evercore to Find Buyer for 800-Patent Portfolio
By Serena Saitto, Douglas MacMillan and Cristina Alesci - Mar 23, 2012 2:58 PM CT
AOL Inc. (AOL) hired Evercore Partners Inc. (EVR) to find a buyer for its more than 800 patents and explore other strategic options, three people with knowledge of the matter said.
Private-equity firms, including Providence Equity Partners Inc., TPG Capital and Silver Lake (SLR), have approached AOL about taking the company private, yet those overtures haven’t resulted in a deal, said the people, who asked not to be identified because the matter hasn’t been disclosed.
Evercore is trying to help the company wring value from a patent portfolio that AOL shareholder Starboard Value LP said may yield more than $1 billion in licensing income. AOL has explored options as an alternative to remaining public amid mounting subscriber losses and a slump that has sliced revenue 29 percent since the 2009 spinoff from Time Warner Inc. (TWX)
AOL’s share price has climbed 74 percent since Aug. 10, when it fell to its lowest level since the spinoff, amid speculation it might be sold to a private-equity firm. It has become too expensive for the financing of a leveraged buyout, people said.
Private equity firms are often drawn by a company’s ability to generate cash. AOL’s appeal is diminishing as its dial-up business dries up, the people said. Sales in that division have plunged each of the past four quarters.
Dial-Up Declines
The unit provided $803 million, or 36 percent, of total revenue in 2011. AOL’s fourth quarter net income declined 65 percent from a year earlier to $22.8 million on sales of $576.8 million. In the fourth quarter of 2009 AOL reported sales of $809.7 million.
Maureen Sullivan, a spokeswoman for AOL, declined to comment. Representatives of Evercore and the private-equity firms declined to comment.
AOL’s portfolio includes “some of the foundation patents for the Internet,” AOL Chief Executive Officer Tim Armstrong said at a Barclays Capital conference this month.
“It’s beachfront property in East Hampton,” he said. “It’s basically extremely valuable.”
Armstrong said in a December interview that he was open to going private. It “doesn’t matter” whether AOL remains public or goes private, he said. Remaining an independent entity is the “first desired course of action,” he said.
Starboard’s Unease
Armstrong had been in talks with private equity firms before, as recently as September 2011, when the CEO approached potential financial partners about combining AOL with Yahoo! Inc. (YHOO), two people said at the time. AOL said in August that it had retained investment bank Allen & Co. and law firm Wachtell Lipton (1347L), Rosen & Katz as advisers. Allen & Co. later gave up its mandate to be Yahoo’s adviser, said one of the people.
Starboard, which increased its stake to 5.2 percent from 4.5 percent late last year, said in a Feb. 24 statement that it’s “increasingly uncomfortable” with the direction the company and the board leadership are taking.
The investor nominated five directors, including Jeffrey Smith, Starboard’s co-founder and chief executive officer, to AOL’s board at the time.
“We are troubled that the company remains closed-minded to alternative value creation initiatives,” Smith said in a letter accompanying the statement. AOL could exploit its more than 800 patents covering Internet technologies such as e-commerce, which may generate “in excess of $1 billion of licensing income,” he wrote.
AOL fired as many as 40 people in the group that includes its AOL Instant Messenger service, while executives Eric van Miltenburg and Jason Shellen departed, three people said earlier this month. The cuts in AIM were related to the division’s underperformance, and could be followed by the elimination of more staff in other departments, these people said.
To contact the reporters on this story: Serena Saitto in New York at ssaitto@bloomberg.net; Cristina Alesci in New York at calesci2@bloomberg.net; Douglas Macmillan in New York at dmacmillan3@bloomberg.net
CAFC just came out with today's cases. We're not among them
Top Story
LightSquared puts up a fight
LightSquared asserted Friday that federal regulators have no legal right to block its plans to create a satellite-based terrestrial wireless network. In a filing to the Federal Communications Commission, the company argued that the FCC relied upon faulty and biased tests in making its ruling. DISH Network, which wants to provide the same type of service, is not expected to encounter the same sort of spectral interference issues with GPS signals that doomed LightSquared's FCC application, analysts and industry executives say. Network World/IDG News Service (3/16), Bloomberg (3/19), Bloomberg Businessweek (3/16) ?LinkedIn?Facebook?Twitter?Email this Story
LightSquared's savior: Ted Olson?
LightSquared's move could signal a court battle against the FCC. | Jay Westcott/POLITICO, AP
By ELIZA KRIGMAN | 3/13/12
LightSquared has retained two of the most prominent conservative litigators in the country — Theodore Olson and Eugene Scalia — in a sign it could be preparing to launch a court battle against the FCC.
The Federal Communications Commission has proposed scrapping LightSquared’s authority to conduct land-based signals over its airwaves and revoking a waiver that enabled the company’s business model. Without this regulatory authority, LightSquared’s entry into the wireless market as a competitor to Verizon, AT&T and other traditional carriers is doomed.
What happened to LightSquared is “an egregious example” of the government encouraging a company to invest an enormous amount of money to meet a national objective and then “pulling the rug out from under them capriciously and precipitously,” Olson told POLITICO. “On the face of things, it looks to me like the government has acted arbitrarily after inducing the expenditure of an enormous number of resources.”
Among other high-profile cases, Olson represented former President George W. Bush before the Supreme Court in Bush v. Gore and Citizens United in its landmark high court campaign finance case that loosened the restrictions on political spending by corporations. In between those cases, Olson served as solicitor general in the Bush administration.
Predominantly known as an advocate of conservative legal causes, Olson surprised many by representing a challenge to California’s ban on gay marriages, arguing that it was unconstitutional. Washingtonian magazine recently named him the No. 1 lawyer inside the Beltway.
LightSquared hasn’t revealed its legal strategy in the wake of the company’s regulatory setback at the FCC, but the hiring of these prominent lawyers could mean a potential lawsuit against federal regulators.
“Olson is viewed as a go-to guy for politically charged legal fights,” said Paul Gallant, a telecommunications analyst for Guggenheim Securities. “LightSquared is clearly gearing up for a battle royal in court.”
Scalia, who formerly served as solicitor of the Labor Department, has also been involved in some major cases. He has represented Boeing in a dispute with the National Labor Relations Board. Scalia and Olson are partners at Gibson, Dunn & Crutcher.
“Ted Olson and Gene Scalia have extensive experience assisting clients with significant challenges involving government agencies,” Terry Neal, a representative for LightSquared, said in a statement. “We reached out to them to assure that we properly cover our full range of options, and are pleased that they will be assisting our team.”
Industry observers and telecommunications lawyers have privately cast doubt on the strength of a case that LightSquared may have. At this point, most industry observers see a court battle as the company’s only path forward.
When pressed for details on a potential legal strategy, Olson said it was too early to say. But he said that strong legal arguments can take time to develop.
“Lots of times we find out, when we dig into things, that we have a whole lot stronger case than people thought,” Olson said.
Read more: http://www.politico.com/news/stories/0312/73930.html#ixzz1p3SNVffB
Revlis, I appreciate your reach to the news of companies and events that may have significant implications for IDCC.
But, what's particularly helpful to me, is when you preface your post with your note(s), indicating how/why/where the post ties into IDCC.
I urge you to Please continue with those additions. I, for one, now look for them in every one of your posts.
Thank you!
InterDigital and Sierra Wireless Expand Worldwide Patent License Agreement to Cover 4G Standards
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)-- InterDigital, Inc. (NASDAQ: IDCC) today announced that its patent holding subsidiaries have entered into an amendment of its worldwide royalty-bearing patent license agreement with Sierra Wireless, Inc. to include a license for products designed to operate in accordance with 4G wireless technologies, including LTE, LTE-Advanced, and WiMax™.
"We are pleased to add Sierra Wireless to our list of licensees with coverage under our portfolio to sell 4G products," commented Lawrence Shay, President of InterDigital's patent holding subsidiaries. "Sierra Wireless offers a comprehensive portfolio of mobile computing and machine-to-machine (M2M) communications products and solutions and is a proven leader in bringing new innovative 4G products to market. We are pleased to have come to an expanded agreement with them in a timely fashion."
InterDigital and Sierra Wireless Expand Worldwide Patent License Agreement to Cover 4G Standards
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)-- InterDigital, Inc. (NASDAQ: IDCC) today announced that its patent holding subsidiaries have entered into an amendment of its worldwide royalty-bearing patent license agreement with Sierra Wireless, Inc. to include a license for products designed to operate in accordance with 4G wireless technologies, including LTE, LTE-Advanced, and WiMax™.
"We are pleased to add Sierra Wireless to our list of licensees with coverage under our portfolio to sell 4G products," commented Lawrence Shay, President of InterDigital's patent holding subsidiaries. "Sierra Wireless offers a comprehensive portfolio of mobile computing and machine-to-machine (M2M) communications products and solutions and is a proven leader in bringing new innovative 4G products to market. We are pleased to have come to an expanded agreement with them in a timely fashion."
Sorry - the URL didn't appear.
MPartners Target price is $54
Courtesy of Postyle on another Board
MPartners Report (2/10/12) - "Fixed Licensees Success Reduces Mean Royalty Rates" (full report)
MPartner's Morning Note (2/10/12) "Fixed Licensees Success Reduces Mean Royalty Rates" is now at WirelessLedger.com.
Download/View Report
Report: Apple will deliver new iPad in mid-March
The iPad 3 reportedly will ship in the second week of March -- the week following Apple's introduction of the device, according to AllThingsD and analyst reports, which note the latest iteration of the device is expected to land just one year after the company trotted out the iPad 2. The tablet is expected to feature a speedier processor, an improved graphics processing unit and better screen resolution. All Things D (2/9), Computerworld (2/9) ?LinkedIn?Facebook?Twitter?Email this Story
Seeking Alpha account@seekingalpha.com
1:08 PM (12 minutes ago)
to me
2:08 PM HTC, which just posted a weak Q4, is adjusting its product strategy. As part of the adjustment, the company, which heavily uses Qualcomm's (QCOM) Snapdragon processors to power its smartphones, plans to boost its reliance on Nvidia's (NVDA) Tegra processors. Shipments of HTC phones featuring Nvidia's "Kal-El" Tegra 3 chip are expected to surge during 1H12. (previously) [Tech] Comment!
Qualcomm (QCOM) is forming a subsidiary that will develop wireless communications products for healthcare applications,
4:27 PM
Qualcomm (QCOM) is forming a subsidiary that will develop wireless communications products for healthcare applications, as well as contain a $100M fund that will make investments in related companies. The subsidiary, called Qualcomm Life, is simultaneously announcing its first product, a solution for allowing medical device users to wirelessly access biometric data
Seeking Alpha account@seekingalpha.com
The EC to slam Google with 400+ page SO by dealReporter
by Evelina Kurgonaite in Brussels
This article is provided to FT.com readers by dealReporter—a news service focused on providing insightful intelligence on event driven situations to investors. www.dealreporter.com
--------------------------------------------------------------------------------
The European Commission (EC) is expected to issue a statement of objections (SO) spanning more than 400 pages that will spell-out allegations of Google’s (NASDAQ:GOOG) abuse of dominance early next year, sources close to the case told dealReporter.
The EC launched an antitrust investigation into Google’s alleged abuse of dominance in the online search market last November, following complaints from search engines Foundem, eJustice and Ciao!
One source close to the case noted that it is not surprising that the SO will be lengthy given the level of complexity of this case and, indeed, the number of complainants. It may also indicate that the EC is preparing for a decision of a similar length, the source added. The file is actually a combination of several cases as Google is being blamed for multiple and multifaceted abuses, another source close indicated. All of those cases could count for a couple of hundreds of pages each.
Google’s chairman Eric Schmidt is expected to pay a “courtesy visit” to the Commissioner Almunia at the beginning of next week, two sources told this news service. The DG Competition’s spokesperson offered no comment. The chairman is likely coming to discuss Google’s acquisition of Motorola Mobility (NYSE:MMI) to make sure it goes through smoothly. It is somewhat early to talk about the dominance case before the SO is out and it would not be wise now that the “whole of Brussels is aware of Schmidt’s visit and is carefully watching”, one of the sources close said.
This would not be the first meeting between Schmidt and Almunia since the antitrust probe was launched. Google’s chairman met the Commissioner in February and reportedly requested to give Google a chance to offer a solution before the EC imposes a fine.
It is in Google’s interest to try and settle. And it is more likely than not that Google will try to do so to avoid a fine of up to 10% of its annual turnover, one of the sources close noted. For example, in 2009, Microsoft (NASDAQ:MSFT) settled the internet browser tying case, a competition lawyer noted. Microsoft then undertook to provide a “Choice Screen,” enabling users of Windows XP, Windows Vista and Windows 7 to choose which web browser(s) they want to install in addition to, or instead of, Microsoft’s Internet Explorer browser. However, the source close expressed certainty that the internet search giant will not get away easily as there are too many complainants, most of whom will not be satisfied with mere promises.
Since the EC formally opened the proceedings, a number of online market players joined the initial complaints: French website publisher 1plusV and a German association of business listings providers VfT – in February; Microsoft, Elfvoetbal, Hotmaps, Interactive Labs, and nnpt.it – in March; and dealdujour.pro – in August. French new-generation search engine Twenga is expected to submit its formal complaint within the next couple of weeks, a source close told this news service. In fact, the list of complainants is much longer and many are not disclosed, a competition lawyer following the case said. It is important to note, the lawyer added, that Germany’s Bundeskartellamt also referred parts of two complaints against Google to the EC.
Google responded to the complainants’ allegations in September and is “cooperating with the EC and responding to its information requests.”
The EC’s probe is driven by a range of allegations. Google is accused of lowering the ranking of unpaid search results of competing services specialised in providing specific online content such as price comparisons, also known as ‘vertical search services’. Google also allegedly accords preferential placement of its own vertical search services in order to shut out competing services. Google is also said to impose exclusivity obligations on advertising partners, preventing them from placing certain types of competing ads on their websites, as well as on computer and software vendors. Finally, the EC is investigating whether Google lowered the ranking of sponsored links by competing search services; the rating is one of the factors determining the price paid to Google by advertisers.
The internet search engine provides two types of results when people run searches on its engine: (i) unpaid search results, also known as “natural” or “algorithmic” search results, and (ii) third party advertisements shown at the top and at the right hand side of the search results page, also known as “paid search results” or “sponsored links”. The alleged abuses concern both unpaid and paid search results.
When Google receives the SO, it will have approximately two months to respond. As a standard procedure, the EC will grant two months to respond, although the procedural minimum is four weeks, a person familiar with the EC’s thinking explained. In complex cases where an SO spans beyond several hundreds of pages, a longer period may be granted. The defendants may also make a request for reasoned extensions, the person added.
Teecee (from AB) mentioned something about a MPartner release today. Anyone seen it? (Or, if I missed it will someone point me to the post.) Thanks.
JL
Very Detailed and Comprehensive report from Red Chip
http://www.redchip.com/files/redchipreports/APNT_20111115_Initial%20Report.pdf?from=elink
Jim, Paulsen filed a Form 13F for the quarter ending 9/30, showing that he had taken a 3 Mill share position in IDCC.
GBR, Can you post the article without us having a membership?
Post on HiLites from 11/4 CEO Shareholder Letter
drhoho
05 Nov 2011, 04:00 AM EDT
Msg. 8715 of 8715
apnt website news: doug baker's 4 november stockholder newsletter contains, among other goodies, 2015 projection of $75 million in revenue and $24 million in profit. mentioned prominently was dr.zvi yaniv's recent trip to china to visit with yhcc and see their solar ink production facility. the projected 2015 earnings of circa $.20/share, multiplied by any reasonable p/e ratio, should give the current circa $.25/share stock price a real kick upward. and revenues/profit beyond 2015?????
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Good presentation (10/11) by CEO, Doug Baker on Background and Future of the Company.
http://www.redchip.com/visibility/video/displayClientpre.asp?symbol=APNT&confID=14&fileloc=mms://wm.vitalstreamcdn.com/aurelius_vitalstream_com/RC/VCOCT2011/APNT_VCOCT2011_pres.wmv&descr=RedChip%20Virtual%20Conference%20X%20-%20October%202011
Yahoo still showing the High as 1.29. That sure won't help the cause.
Analyst Estimates Get Analyst Estimates for:
Earnings Est Current Qtr.
Sep 11 Next Qtr.
Dec 11 Current Year
Dec 11 Next Year
Dec 12
Avg. Estimate 0.63 0.44 2.04 2.78
No. of Analysts 4.00 3.00 5.00 5.00
Low Estimate 0.35 0.38 1.61 1.81
High Estimate 1.29 0.49 3.11 4.22
Year Ago EPS 0.79 0.76 3.43 2.04
This is a post from another Board re: the current Samsung - Apple patent battle. The post is about SAM's newest development into AMOLED. After viewing the URL at bottom, I thought about the patents we sold and licensed to SAM last year, and wondered if our invention(s) led to this breakout innovation?
We've got some great minds and researchers on this Bd....so I thought I'd offer it up and see what you folks think?
The post reads,....
"What we are seeing is that Samsung made a bet on OLED, and it's about to pay off bigtime, and in a way that might blow Apple out of the water when you look at what Samsung has already concpetualized for 2012.
Maybe some LED processes can achieve this going forward, but Samsung seems to be on the verge of making a huge leapfrog forward in design.
I am sure what Apple has in mind to resolve this, is perhaps what may keep them in the game next round. If Samsung does not want to give up this lead to the rest of the market, then they will have to acquire more amunition to duke this out on the patent front only.
I think Apple wants supoer AMOLED HD, and also is looking forward to flexible AMOLED. It may well be a differentiator that they cannot overcome."
http://www.phonearena.com/news/Samsung-Galaxy-Skin-concept-combines-flexible-AMOLED-display-with-bendable-batteries-for-twisted-fun_id20684
Generic, Might even be the same guy. Check the times of sale.....
Time and Sales for Applied Nanotech Holdings Inc. (APNT) Sep 26, 2011
Symbol:
Time Price Volume Exchange
10:08:01 0.31 2500 OBB
10:06:08 0.31 20000 OBB
10:01:50 0.31 139000 OBB
Looks to me like this guy is hurting, Or, he hasn't read the Shareholder Letter.
Generic,
IMO, it's got some very good info in it.
Read it a couple of times to get the detail.
JL
Letter To The Shareholders
A Periodic Update – September 21, 2011
http://www.appliednanotech.net/investors/shareholder_comm_2011-Sep.php
Applied Nanotech Receives Landmark Raman Spectrum Patents in Japan
Patented Technology Can be Integrated Into Electronics, X-Ray Equipment, Lighting Devices, LCD Backlights, and Field Emission Displays
Press Release Source: Applied Nanotech Holdings, Inc. On Thursday September 1, 2011, 9:25 am
AUSTIN, Texas, Sept. 1, 2011 (GLOBE NEWSWIRE) -- Applied Nanotech Holdings, Inc. (OTCBB:APNT.OB - News) is pleased to announce that it received notification that its U.S. Patent No. 5,869,922, originally issued in the U.S. in 1999, claiming specific Raman spectrum signatures for all carbon films that have superior electron emission properties, has been issued in Japan (Japanese Patents No. 4786471 and No. 4786031). In addition to the U.S., this patent was previously issued in other areas of the world, including China, Korea, and Europe.
The importance of this patent in the field of electron emission cannot be understated, particularly in a strong electronic manufacturing country like Japan. The patent system in Japan is recognized as one of the most rigorous in the world and issuance of this patent in Japan strengthens APNT's entire Raman patent family, which does not expire until July 2018.
"We received a lot of opposition in Japan to this patent filing by major Japanese corporations and the granting of this patent in Japan is an important milestone for Applied Nanotech and its shareholders," commented Dr. Zvi Yaniv, CEO of Applied Nanotech, Inc.
Applied Nanotech holds an extensive patent portfolio in the area of electron emission, and believes that this significant group of patents covers all carbon nanofilms, including carbon nanotubes used for electron emission applications. There is great interest in carbon nanotube innovation with companies small and large scrambling to integrate the technology into their newest electronics, X-ray equipment, lighting devices, LCD backlights, and field emission displays. Samsung, one of the world's largest electronics manufacturers, has already recognized the technology's importance and secured a license agreement in November 2010 as part of a package of approximately 150 patents that it licensed from Applied Nanotech. While Samsung has a paid up license to the technology, it is available for license to other companies on a nonexclusive basis. Success by Samsung in the introduction of a product using this technology will enhance the value of the patents and likely induce others to introduce products requiring a license.
The first claim of this group of patents states that: "A field emission device comprising a layer of carbon film on a substrate, wherein the carbon film has a UV Raman band in the range of 1578 cm-1 to 1620 cm-1, wherein the UV Raman band has a full width at half maximum (FWHM) from 25 cm-1 to 165 cm-1."
Researchers at Applied Nanotech identified and recognized the specific characteristics of carbon films that possess the most superior properties for enhanced electron field emission. UV Raman spectra analysis can be easily executed at many universities and laboratories, and as a result this simple analysis can identify if someone is using carbon films for electron emission that has the Raman spectra signature specified in Applied Nanotech's intellectual property under the claims of this group of patents. To date all the Raman spectra tests executed at Applied Nanotech of high quality electron emission carbon film materials demonstrate that their UV Raman spectrum is in the range covered by the specific claims in this group of patents.
"While electron emission activities are no longer part of our growth strategy or core business activities, the income that can be generated from our dominant portfolio in this area can be a nice addition to our earnings for years to come. As with any of our patents, we will vigorously defend it against any current or future violators. Because of the ease in determining if the Raman spectrum patent is being violated, we will be able to defend our patent rights quickly and efficiently if needed," said Doug Baker, CEO of Applied Nanotech Holdings, Inc.
OT - I've discovered the reason for today's decline.
My daughter put a GTCancel for 55 shs in at $69, before the open on Monday.
If she didn't fill on the 69 low today....she's out of the will.
LOL
Between now and our Auction, expect to see lot's of these FUD (i.e. Fear, Uncertainty, and Doubt) articles appearing. Despicable!!! (My Bold)
Analysis: Google/Motorola could be peak of patent price spike
A posed picture shows a Motorola Droid phone displaying the Google search page in New York August 15, 2011. REUTERS/Brendan McDermid
On Monday August 22, 2011, 12:41 pm
By Poornima Gupta and Bill Rigby
SAN FRANCISCO/SEATTLE (Reuters) - The bubble in mobile phone technology patent values may just have popped.
Now that Google Inc (NasdaqGS:GOOG - News) has agreed to a $12.5 billion deal to buy Motorola Mobility Holdings Inc (NYSE:MMI - News) -- scooping up a trove of 17,000 phone-related patents to give itself some ground to defend its Android operating system -- the most motivated buyer looks to be off the market.
"The game is completely changed as a result of Google's acquisition of Motorola Mobility. The arms race is essentially over," said John Amster, chief executive of RPX, a company that advises customers on patent purchases. "They have basically created through acquisition what they needed."
Google's move was widely seen as a response to its loss in the auction of 6,000 Nortel patents to a group led by Microsoft Corp (NasdaqGS:MSFT - News), Apple Inc (NasdaqGS:AAPL - News) and Research in Motion (Toronto:RIM.TO - News), which fetched an unprecedented $4.5 billion in July.
Most in the industry believe Google -- a relative newcomer to the telecommunications business, without a historical accumulation of patented technology -- has now put itself on more of a level footing, curbing its appetite for further purchases.
"It's a bubble in this market space until there is a balance of power established, and I think now there is," said Ron Laurie, managing director and patent consultant at Inflexion Point Strategy.
The heat of the patent market will be tested early next month by the auction of wireless telecommunications specialist InterDigital Inc. (NasdaqGS:IDCC - News)
Apple, Google and Microsoft -- three of the most cash-rich players in technology -- had expressed interest in the company, but Google's participation in the auction is now unclear, sources told Reuters last week.
Even so, the company could still fetch a handsome price.
"There is clearly an upward sloping trend in patent value and patent value being recognized," said James Malackowski, chief executive of Ocean Tomo, an intellectual property advisory firm which values patent portfolios as part of its services. "As with any trend, it's never perfectly smooth, you see volatility in outlier transactions."
WHAT'S IT WORTH?
How phone patents got to be so expensive all of a sudden is a factor of their strategic desirability rather than any other measure of value, experts in the field agree.
As the smartphone market exploded -- threatening to revolutionize personal computing -- Apple needed to protect its iPhone and Microsoft wanted Android handset makers to pay for technology it believes it invented. Google, and its handset partners, needed protection from both.
The result was a sudden spike in the value of phone-related patents on the market at a crucial time.
"I was surprised, as was everyone, by the Nortel auction, which worked out at almost $750,000 per patent," said one patent attorney, who asked not to be named as he has acted for various major technology players.
"That is extraordinarily high, probably by a factor of 10 higher than usually you would see a portfolio like that go for."
On paper, patents can be valued like any other asset, said Malackowski at Ocean Tomo.
"There are three textbook ways to value intellectual property, just as you would real estate -- the income approach, the cost approach, and the market approach," he said.
"If you are looking at an apartment building, the market approach says how much do other apartment buildings sell for? For the cost approach, you would ask what it would cost to build a like unit. The income approach says look at the present value of the rents -- or for patents, the present value of the expected earnings associated with owning the technology."
But in reality, these methods are skewed by business considerations.
"Both of these transactions (Nortel and Motorola) were highly strategically motivated," said Malackowski.
For this reason, most think Nortel was unique and an outlier, not an indication of things to come.
"We think the value was mainly driven by the process and the strategic dynamics, not by pure patent values," said Amster at RPX. "We did not expect that was going to be a relevant, comparable transaction for the future in the patent market. People talking about value per patent is frankly silly."
PAST, FUTURE DEALS
If the patent bubble did just pop, the biggest loser was InterDigital.
[color=red][/color]
Shares of the wireless company -- due to be auctioned early in September -- have fallen 17 percent since Google's Motorola purchase was announced.
Sources familiar with the situation say Google's participation in the auction is now uncertain, leaving the field open to bidders Apple, Nokia (Helsinki:NOK1V.HE - News), Qualcomm Inc (NasdaqGS:QCOM - News) and others.
Google now has what it needs, industry experts agree.
"A key wireless patent was worth a lot more to Google on Friday (before the Motorola deal) than it was on Monday," said Laurie at Inflexion.
The fate of Eastman Kodak Co (NYSE:EK - News), which is looking to sell a portfolio of digital imaging patents, may be better. The lowly shares of the ailing photographic pioneer are up 41 percent since the Motorola deal.
But Kodak's market value is still much less than the $2 billion to $3 billion price tag analysts have put on its patent portfolio, which is becoming a common situation.
"A lot of companies are in that position," said Laurie. "The patents are worth more than the company that owns them. We are going to see a lot more patent deals done as M&A deals for that reason."
Other losers could be those who sold too soon.[color=red][/color]
Smartphone innovator Palm Inc sold itself and its groundbreaking webOS system for only $1.2 billion to Hewlett-Packard Co (NYSE:HPQ - News) last year. Few doubt the company would fetch more now. The technology may yet reappear on the market after HP ditched the system last week.
Industry experts think the technology patent market will now either revert to normal, or get back on a more gradual growth track, but wild spikes are in the past.
If there was a bubble, it is probably over now, given some competitive heat has been removed from the situation.
"The game will never be the same as it was before Nortel. Whether valuations will continue to rise or level off, it's very hard to predict," Laurie said.
A return to more predictable deals is most likely, said Amster at RPX. "Companies buy patents all the time, normal patent purchasing will continue. But the strategic arms race is over. It has to go back to normal."
Here's Schwab's post/news release, in response to our/my request(s)
GTT Group said rumors that they issued a negative evaluation of InterDigital's (Nasdaq: IDCC) patents are "completely false."
Yesterday, InterDigital, which is currently exploring a sale, fell intra-day after rumors hit the market that GTT questioned the value of the company's patents. If true this would have had major market implications as some analysts have put a value on the company's 9,700 patents of up to $167 per share.
Below is the statement from GTT Group:
Early this morning Global Technology Transfer Group (GTT Group) was mentioned in an unsubstantiated rumor concerning InterDigital patent valuation.
This report is completely false and the publications have agreed to revise their reports accordingly. GTT Group does not publicly comment on patent portfolio valuations, clients or engagements. GTT Group policy holds client business, information, and discussions strictly confidential.
News Provided by Acquire Media Corporation
After calling my contact at Schwab, he said that he'd get right on it, and did! They published the corrected story at 11:25 EST. Unfortunately, I can't print out their text, but they were thorough.
I've been with Schwab for years and have found them to responsible and responsive.
Just checked Schwab streamer and it's still there. I'll reinforce your call with one of my own. Thanks for the "Heads Up!"
Appears to me that "This is the Lie" that was used today,and denied by GTT.
(From IV - Sorry if this was cited already)
In response to msg 54116 by RCMac98 ignore topic, view thread, thread start
Re: Now what was that all about ?? //Another tweet with quote- @bricktop13
bricktop13
@BradyOrenthal @JNGross Just passing it along re: IDCC: "GTT Group, which is the top technology patent firm in the world, has held discussions with BJ Watrous who is the Chief IP council for Apple, have said that IDCC patents other then their original 3G are for the most part worthless, any incremental recent valuation that has been assigned to the patents is "nothing but pure hype and a disservice to the industry" Nortel had a completely different dynamic."
Applied Nanotech Achieves Greater than 40 and 30 Percent Improvements in Flexural and Tensile Strength for Carbon Nanotube Enhanced Vinyl Ester Resins
Improves FRP Flexural Strength by 31 Percent and Flexural Modulus by 20 Percent
Source: Applied Nanotech Holdings, Inc.
Date: August 10, 2011 09:20 ET
http://www.globenewswire.com/newsroom/news.html?d=229100
AUSTIN, Texas, Aug. 10, 2011 (GLOBE NEWSWIRE) -- Applied Nanotech Holdings, Inc. (OTCBB:APNT) is pleased to announce that it has achieved a greater than 40 percent improvement in flexural strength and greater than 30 percent improvement in tensile strength and modulus for its vinyl ester/carbon nanotube composites in the base resin form. These improvements were obtained through the chemical and mechanical modification and functionalization of carbon nanotubes in order for them to be accepted and integrated properly into the vinyl ester matrix.
Applied Nanotech has made significant progress in this development of vinyl esters, particularly for use in fiberglass reinforced plastics (FRP). Many have tried adding carbon nanotubes to make vinyl ester-based materials stiffer, lighter, and stronger, but results have been mixed, due to the challenges in reinforcing vinyl ester resins with nanomaterials because of some key technical issues. Furthermore, the properties of these new vinyl ester/carbon nanotube composites have historically not been easily transferable to FRPs, but by using its new composite, Applied Nanotech has achieved a very promising 31percent improvement in the flexural strength and 20 percent improvement in the flexural modulus of the final glass FRP composite.
"There exists a very positive and defined market opportunity for this technology. By extending the improvements of mechanical properties in our vinyl ester base resin to FRP composites, our carbon nanotube reinforced vinyl ester resins will further reduce the weight of composite materials in these applications while maintaining adequate strength," said Dr. Zvi Yaniv, Chief Executive Officer of Applied Nanotech, Inc.
Vinyl ester materials are used in a variety of industries and are the fastest growing segment of thermosetting resins because of their combined inherent toughness with outstanding heat and chemical resistance. Vinyl esters are thought to be the next generation replacements of existing thermosetting resins such as unsaturated polyesters. The foremost application of vinyl esters is in glass reinforced laminates for corrosion resistant equipment and parts. Vinyl ester corrosion coatings are widely used today for steel tank linings and industrial flooring. Vinyl esters are also used in renewable energy sectors, where more than 100 million pounds of vinyl ester resin was used for wind mill blades in 2009. Other significant markets for vinyl esters include construction and electrical components, automotive structural applications, polymer concrete vessels for mining and chemical operations, grating, high performance marine applications, and sporting goods.
"Building on our recent successes in sporting goods and defense applications, we will pursue customers and strategic partners in other markets served by this potentially breakthrough technology, leveraging our position of strength to gain traction in new and different sectors," commented Mr. Doug Baker, Chief Executive Officer of Applied Nanotech Holdings, Inc.
ryo paired with adam scott in last twosome, off at 2:00 pm edt.
Thanks to drhoho from RB
06 Aug 2011, 09:37 PM EDT
Yonex golf poster boy is #2 in today's Bridgestone Tournament.
Aug. 6, 2011
By By Helen Ross, PGATOUR.COM Chief of Correspondents
AKRON, Ohio -- Ryo Ishikawa was 5 years old when Tiger Woods won his first Masters Tournament in 1997. Jason Day wasn't much older at 9.
Hard to believe, isn't it? And it's even more eye-opening to realize that the two, who were drawn to the game by Woods' charisma and phenomenal success, are beating him so soundly this week at the World Golf Championships-Bridgestone Invitational.
Helen_Column.jpg
Not only are the two 12 strokes ahead of Woods, the Japanese teen and the 23-year-old from Australia have a chance to pick up the biggest win of their careers on Sunday at Firestone Country Club. They will start the final round in pursuit of the Gary Player Cup one stroke off the lead of 12 under held by Adam Scott, a veritable geezer of an Aussie at the age of 31.
"I'm just happy to be on the leaderboard," the senior citizen Scott said with a smile. "I don't care how old I am. It is amazing, Jason playing well again and Ryo, these guys, teenagers. It's unbelievable. I think golf is looking in good shape for the future really with players like this up here now."
In good shape, indeed. Rounding out the top five on the leaderboard are a 25-year-old American in Keegan Bradley and a 28-year-old newlywed from Scotland named Martin Laird. Bradley picked up his first victory, and Laird his second, earlier this year -- two of 12 players in their 20s to have won on the PGA TOUR in 2011.
A more diverse -- or younger -- leaderboard would be hard to fathom. And don't forget to factor in a pair of 22-year-olds in Rickie Fowler, who will be resplendent in orange head-to-toe as he starts the final round at 9 under, and Rory McIlroy, the reigning U.S. Open champ who's five strokes off the lead.
"The game of golf is in really good shape right now," Day said. "It really is fun. Give us a good few years, and it's going to be a lot of young players out here that are going to be in contention."
But that time just might be now. On Sunday, to be exact.
Scott, who says he still feels like a teenager sometimes and will play with one on Sunday, may -- or may not -- be glad to hear that Day, whom he's known for eight years now, considers that 31 once was "young out here." Of course, that was maybe five or 10 years ago, Day quickly added in all seriousness.
"I think with the technology that we have today, with the competition that we have over here and obviously around the world, the game of golf is only improving, and with improvement, that obviously involves the younger kids," Day explained.
The Grecian Formula set can take heart, though. Steve Stricker, who, gosh, is all of 42, lurks five strokes off the lead. And the man who ranks second in the FedExCup is joined by Luke Donald, the 33-year-old reigning world No. 1, and Zach Johnson, who owns a Green Jacket at 35.
Sunday, though, figures to be all about the youngsters, just as the third round was. And if anyone is to challenge Scott, who has won seven other PGA TOUR events, it just might be his countryman who has seven top-10s already this season, including runner-up finishes at the Masters and U.S. Open.
"I really like Jason's attitude," said Scott, who played with, and tied, Day at Augusta National that Sunday. "He's out here, he means business. He's not out here to make friends is what I kind of feel like. He comes to the course, he means business, he wants it badly, and it's good to see, because he's not waiting for experience to just come along, he's out here getting it.'
To be sure, Day would like nothing better than to develop a rivalry, or maybe two or three. He thinks it's good for the game, whichever game you follow, and there are a host of good young players on the radar screen from which to pick and choose.
"It's like the Phil and Tiger rivalry back in the day," Day said, once again making many of us reach for the Geritol bottle. "Everyone would talk about that, oh, I can't wait to see them play in the final group together. So I think there's no hatred, it's just a good, friendly rivalry.
"... It's getting really, really tough to win golf tournaments out here. With the way golf is going right now, with how young the guys are coming out and winning, it's only going to get tougher over the next few years."
Ishikawa could be one of those rivals. But he speaks of a "sense of loneliness" when he plays in the United States and the learning curve has been steep. His forays onto the PGA TOUR have generally been at elite events like the Bridgestone Invitational where the competition is fierce, and the expectations high. He carries the flag for an entire adoring nation and has responded in kind, committing his entire earnings this year to tsunami relief.
Still, Scott says Ishikawa was more mature as a golfer than the Aussie was when he opted to take his game first to the European Tour at the age of 20. He has played with him at the Presidents Cup -- and by the way, International Captain Greg Norman has to be feeling good when he looks at the leaderboard -- and is impressed with the way the teen, who has earned the nickname of the "Bashful Prince," handles such intense scrutiny.
"Most people would have gone nuts," said Scott, adding that Ishikawa's maturity level is "remarkable."
Sometimes a player has to be patient, though. Not everyone can take the world by storm like that old man named Woods. And as Day is quick to point out, Ishikawa -- or any other young pro, for that matter -- has to feel "comfortable in his own skin" and confident in himself."
Sunday will be that confidence-builder. Whether it's for Ishikawa, who could become the youngest player to win on the PGA TOUR since 1911, or Day or Scott or someone else remains to be seen.
"I'm just going to look at it as a great opportunity," Scott said, speaking as the elder statesman but channeling the excitement of youth.
Shareholder Letter - 8/3
http://www.appliednanotech.net/investors/shareholder_comm_2011-Aug.php
IQ - Looks like a hook to Huawei
August 03, 2011 5:06 PM ET
Communications Equipment
FutureWei Technologies, Inc.
SnapshotPeople
Company Overview
FutureWei Technologies, Inc. engages in the research and development, production, sales, and marketing of wireless and wire line networking and telecommunications equipment. It offers optical networking; BITS clock supply, wireless networking, broadband access, data communications, and video conferencing products. The company provides enterprise network solutions, including video conferencing and networking solutions. FutureWei Technologies, Inc. also offers carrier network solutions comprising metro optical, long haul optical, optical networking, mobile network, and broadband. The company was founded in 2001 and is based in Plano, Texas. FutureWei Technologies, Inc. operates as a subsidiary of Huawei Technologies Co., Ltd.