Nokia claims Reddit infringes on some of Nokia's patents.
The Zhitong Finance App learned that the social media platform Reddit (RDDT.US), which has the title of “US version of the Tieba”, disclosed in a regulatory document on Tuesday that Nokia (NOK.US) claims that the company has infringed on some of Nokia's patents. Reddit is evaluating these allegations. “As we face more intense competition and visibility, the possibility of receiving more intellectual property claims against us is also increasing,” Reddit said in the filing.
According to information, Reddit has been committed to listing for many years. The company plans to conduct an initial public offering (IPO) in the US this week to raise hundreds of millions of dollars. The market expects the company to reach the target price range of at least $31 to $34 per share when pricing its IPO on Wednesday.
According to reports, Nokia is often involved in patent disputes. In 2021, Daimler and Nokia reached a settlement over a patent license dispute for automotive wireless technology, ending a legal dispute that once threatened the sales of the iconic Mercedes brand in Germany.