The Sonos Inc. (NASDAQ: SONO) audio electronics company has won its patent litigation with Google. Consequently, the price for SONO stock at the August 16 trading increased by 4.69% to $39.93, reflecting this reason.
In January 2020, Sonos filed a lawsuit against Google, claiming it violated five patents. The company claimed that Google was violating its intellectual property with its smart products. These products include Google’s popular Nest home speakers, Pixel smartphones, and Chromecast TV boxes.
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The US International Trade Commission announced on Friday, August 13, 2021, that Google had infringed Sonos patents. The final decision, in this case, will come in December, but it is already clear that Sonos will receive royalties. Products that fall under the regulator’s decision are used in a wide variety of devices, not just directly by Google, but also by third-party manufacturers.
Sonos’ victory over Google could set a precedent for the company to take on other companies, which will likely opt for licensing deals in the end. Thus, Sonos may be able to get more revenue than expected from new deals. With over 2,000 patents, Sonos has one of the most valuable portfolios of consumer devices and services.
In the most recent trading session, SONO’s stock increased 4.69 percent to $39.93. The stock was trading in the range of $39.45 to $42.57. It traded 37.83 million shares, much above the 100-day average of 2.57 million. The stock of SONO has increased 14.94 percent in the previous five days and 23.24 percent in the last month.