In the latest round of the mobile phone titans clashing over patent infringements, Apple was successfully in blocking a large shipment of the highly anticipated HTC One X and HTC EVO 4G LTE phones. The shipments has been held at U.S. customs until further notice.
HTC had planned to launch the release of these two models this month, now that it might get delayed, investors think this could become a broader legal dispute and are now selling off the stock. The HTC stock ,which is traded on the Taiwan stock exchange, has been selling off since this news went public, sending the stock down over 6.5%.
Prior to all the patent wars with Apple, HTC stock was flying high, trading at a peak of over $1,200. But the late Apple CEO Steve Jobs announced a public patent war against HTC (and all Android based phones). He vowed to take down its competition at all costs, even if it meant deploying all its $110B (as of 2Q 2012) that AAPL currently has sitting in cash for the legal battle.
The blocked shipments obviously throws a wrench into the HTC’s plan of launching the new phones. AT&T had already begun selling the HTC One X on May 6th. They are selling the phone for $199 with a 2 year contract and $549 without contract. The AT&T wireless website is now currently listing the phone as “temporarily out of stock” for both the white and gray models.
HTC had also planned the release of the highly anticipated HTC EVO 4G LTE this Friday (May 18th), the snafu will undoubtedly push back the release date. Sprint lists the phone as a similar price point as the One X at $199 for 2 year contract and $549 without contract. It is also curently listed as “sold out” on the Sprint website.
What do you think of Apple’s dispute with HTC and the broader Android community? Feel free to comment below!
Update: On May 30, 2012, HTC released a statement announcing the resolution to the situation.
“HTC has completed the review process with U.S. Customs and HTC devices have been released, as they are in compliance with the ITC’s ruling, future shipments should continue to enter the U.S. and we are confident that we will soon be able to meet the demand for our products.”