Monday, December 26, 2011
Seiko Epson marks Boxing Day by announcing Nokia lawsuit settlement, 'extraordinary loss'
With Christmas behind us, it's time to get back to the real world. For Seiko Epson, that means some serious downer news. The company announced today that it has finally opted to settle with Nokia over antitrust lawsuits filed in the US and UK. The company will pay the Finnish handset maker a cool $80 million over the lawsuit, which stems from issues with LCD supply. That sum that will result in an "extraordinary loss" for Q3, according to Epson, though the company has opted not to adjust full-year earnings forecasts. Check Epson's press release after the break.Permalink | | Email this | Comments