ParkerVision Files Against Hisense for Patent Infringement

Rhea-AI Summary

ParkerVision, Inc. (OTCQB:PRKR) filed a patent infringement complaint against Hisense Co., Ltd. and Hisense Visual Technology Co. Ltd. in the Western District of Texas. The lawsuit centers on ten patents related to wireless technologies allegedly violated by Hisense's TVs and products. ParkerVision is seeking financial damages through a jury trial. CEO Jeffrey Parker expressed a preference for a licensed agreement rather than litigation, while Ronald M. Daignault emphasized the significance of ParkerVision's technological innovations.

Positive

• ParkerVision's complaint highlights the company's significant investment in R&D and patented technology, which may result in substantial financial compensation if successful.
• The engagement of a reputable law firm, Goldberg Segalla, enhances ParkerVision's legal positioning in the patent enforcement action.

Negative

• Litigation can be costly and time-consuming, potentially diverting resources and focus from core business operations.
• The outcome of the lawsuit is uncertain, and there is a risk of not achieving the desired financial damages or recognition.

JACKSONVILLE, FL / ACCESSWIRE / September 25, 2020 / ParkerVision, Inc. (OTCQB:PRKR) announced today that it has filed a complaint against Hisense Co., Ltd and Hisense Visual Technology Co. Ltd., (collectively "Hisense"), a Chinese multinational electronics company, for the infringement of ten of its patents. The complaint, filed in the Western District of Texas, requests a jury trial to determine, among other items, the financial damages for the unauthorized use of ParkerVision's patented technologies in Hisense televisions and other Hisense products. The law firm of Goldberg Segalla is representing ParkerVision in this action.

Hisense claimed in 2019 that Hisense TV was the fastest growing Top 6 TV brand in the United States by units and dollars. Hisense products identified in the complaint incorporate modules containing certain WiFi chips that ParkerVision has determined infringe its patents.

ParkerVision CEO Jeffrey Parker commented, "ParkerVision is fortunate to have a partner in the Goldberg Segalla firm who recognizes the significant investment in R&D and the contributions that our technology has brought to many of the highest volume and most advanced wireless chips, such as the WiFi chips in Hisense TV's. Our preference would be to find mutual agreement outside of litigation on a license to those companies who want to enjoy the benefits of our patented technologies; and we remain optimistic that this can be achieved."

Commenting on the enforcement of ParkerVision's patent rights, Ronald M. Daignault, partner and co-chair of the Goldberg Segalla intellectual property practice group, stated, "We have invested heavily both internally and with industry experts to understand the benefits and the impact that ParkerVision's patented innovations have made to wireless communications and in particular to wireless chips. There is no question that ParkerVision's technology breakthroughs achieved the advancements that others had been trying to achieve for decades, but failed. It is unfortunate that ParkerVision has to litigate to achieve the recognition that it deserves for the enormous advances their patented technologies achieve, and are taken for granted in our everyday use of billions of wireless devices their technologies are so critical to.

About ParkerVision

ParkerVision, Inc. has designed, developed, and patented proprietary radio-frequency (RF) technologies. ParkerVision is engaged in a number of patent enforcement actions to protect patented rights that it believes are broadly infringed by others. For more information, please visit www.parkervision.com.

Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2019 and the Forms 10-Q for the quarters ended March 31 and June 30, 2020.. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.

Contact:

Cindy Poehlman
Chief Financial Officer
ParkerVision, Inc.
904-732-6100
cpoehlman@parkervision.com

SOURCE: ParkerVision, Inc.

View source version on accesswire.com:
https://www.accesswire.com/607778/ParkerVision-Files-Against-Hisense-for-Patent-Infringement

FAQ

What is the basis of ParkerVision's lawsuit against Hisense?

ParkerVision's lawsuit against Hisense is based on alleged infringement of ten of its patents related to wireless technology.

What is ParkerVision seeking through the lawsuit?

ParkerVision is seeking financial damages through a jury trial for the unauthorized use of its patented technologies in Hisense products.

Who is representing ParkerVision in this legal action?

ParkerVision is represented by the law firm Goldberg Segalla in the patent infringement lawsuit against Hisense.

What potential impacts could the lawsuit have on ParkerVision's stock (PRKR)?

The lawsuit could lead to financial compensation and validation of ParkerVision's technologies, positively impacting its stock if successful.