Nanoco, the Quantum Dot developer, had sued Samsung for patent infringement back in 2020. The case was to go to trial today, January 6, 2023, in a Texas court, but both parties have reached a no-fault settlement, the details of which are now being negotiated.
A trial between Samsung and Nanoco had been due to start in a Texas court this afternoon but confirmation came hours before that the pair had agreed a “no fault” settlement. Legal teams for Samsung and Nanoco will spend the next 30 days thrashing out the terms of a formal deal.
The Times
Nanoco had also filed suit against Samsung in China last October which no doubt was a pressure tactic to get the Korean giant to settle. This likely means a hefty payment from Samsung and the markets have reacted by raising Nanoco’s share price. This news comes hot on the heels of Samsung’s announcement of a big downturn in sales.
For Nanoco, the news is a welcome boost to its plans to be self-sufficient financially. The company had raised about GBP 5.4 million ($6.4 million) in 2022, cut costs, had some forward momentum on incoming commercial deals, and a runway through to 2025. The guesstimates for the windfall from this win are in the range of $200-500 million, but wherever that number falls, it’s going to be a great deal for Nanoco. In an investor conference call on October 21, 2022, Brian Tenner, Nanoco’s CEO, had been bullish on the company’s chances with its lawsuits but was also projecting many more years of litigation before settlement. He is probably enjoying a nice glass of champagne about now.
