Boston, MA 02/17/2014 (wallstreetpr) – Nokia Corporation (ADR) (NYSE:NOK) in the second week of February, 2014, appears to have made a settlement with HTC Corp, ending a long drawn patent brawl, across several countries. For the 60 lawsuits in question, HTC Corp will pay Nokia and in return a license to use the same. Details of the deal are yet to be provided. Besides, both the mobile technology players are expected to enter into collaborations on two fronts- technology as well as patents. Separately, Nokia Corporation (ADR) (NYSE:NOK)’s handing over of the Devices and Services business at its Indian facility, to Microsoft Corporation (NASDAQ:MSFT), will not be undermined due to pending tax disputes between Nokia and the Indian Government, believe Nokia analysts.
Just last week Pfizer Inc. (NYSE:PFE), the maker of Lipitor, was happy to announce its recent overseas venture in Australia. However, things appear to have taken a tough turn, with the Australian Competition & Consumer Commission (ACCC) suing the Pfizer unit, Australia for alleged misuse of its dominant market position. In May 2012, Lipitor’s patent had expired. However, prior to the expiry, Pfizer Inc. (NYSE:PFE) had offered pharmacies massive discounts as well as rebates for a year’s stock. The annual revenue generated by this strategy was over $632.35 million. Lipitor was prescribed to over 1 million Australian for lowering Cholesterol.
Consumer bank Citigroup Inc (NYSE:C), despite a drop in its bottom line by over 15% and a 11% drop in consumer banking segment and retail banking reported better than average credit card business. The company also noted that its main revenue earner was the Credit Card business. For peers such as Bank of America, the dependence on Credit card business was restricted to 16%, JP Morgan Chase was 13%, for Wells Fargo 6%; for Citigroup Inc (NYSE:C) nearly 56% of its consumer banking revenue was derived from Credit Cards business segment.
