Ericsson (NASDAQ:ERIC) has filed a lawsuit against Apple (NASDAQ:AAPL) for continuing to use the it's 5G patents in the iPhone after expiry of the license agreement.
Two lawsuits filed by Ericsson covers a total of 12 separate patents.
The Swedish company first sued Apple in October claiming that it was trying to improperly cut down the royalty rates while the iPhone maker in turn sued the Swedish company in December accusing the firm of using “strong-arm tactics” to renew patents.
AAPL shares down 1.5% and ERIC down 1% premarket.
Deutsche Bank raises price target for Apple to $200 from $175, sees more than 15% upside for tech giant.