Apple Loses Copyright Suit in China
December 28, 2012 by Trey Thoelcke
A Beijing court ruled against Apple Inc. in a copyright dispute on Thursday, saying the company must pay a fine for selling unlicensed electronic versions of books online.
The Beijing No. 2 Intermediate People’s Court ordered Apple to pay a total of 1.03 million yuan (165,908 U. S. dollars) to eight Chinese writers and two companies for violating their copyrights.
The plaintiffs said they spotted applications containing unlicensed electronic versions of their books available for download last year, adding that the books were downloaded in great quantity, resulting in large economic losses for their authors, their lawyer said.
Apple shares are fractionally lower in premarket trading this morning to $512.00. The 52-week trading range is $400.51 to $705.07, and analysts have a mean price target of $741.38 on the shares.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.