Vonage Loses Verizon Patent Suit
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Vonage tells customers to hold fast after patent court rules in favor of Verizon. Plus: Stocks tumble again. LG goes to Iran. And more.
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A jury dealt a blow to  loss-making Internet phone provider Vonage Holdings Corp. on  Thursday, ordering the company to pay $58 million plus  royalties on future sales for infringing three patents owned by  Verizon Communications Inc..
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ALEXANDRIA, Virginia  - A jury on Thursday ordered Internet phone provider Vonage Holdings Corp. to pay $58 million for infringing on three patents owned by Verizon Communications Inc..
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A jury ordered Internet phone provider Vonage Holdings Corp. to pay $58 million for infringing on three patents owned by Verizon Communications Inc.
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A federal jury has found that Vonage has infringed on three patents owned by Verizon and ordered the Internet telephony company to pay damages of $58 million, in addition to a 5.5 percent royalty on all future Vonage sales.
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A federal jury yesterday ordered Vonage Holdings to pay Sprint Nextel $69.5 million in damages for violating six of its patents, prompting analysts to question whether the troubled Internet phone company could survive.
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Internet phone services company Vonage  Holdings Corp.  said on Monday it did not infringe on  Verizon Communications Inc.'s  patents and a lawsuit will  not disrupt its business whatever the outcome.
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A jury dealt a blow to  loss-making Internet phone provider Vonage Holdings Corp.   on Thursday, ordering the company to pay $58 million  plus royalties on future sales for infringing three patents  owned by Verizon Communications Inc. .
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A U.S. jury found that Vonage Holdings Corp had infringed patents owned by Sprint Nextel Corp and ordered the Internet phone company to pay $69.5 million in damages, triggering a 34 percent fall in its shares.
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According to Vonage, rumors of its demise due to its ongoing patent litigation with Verizon have been greatly exaggerated. Vonage is accused by Verizon of violating seven even patents covering telephone features and the use of Wi-Fi to place telephone calls.
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Vonage, an Internet phone company, may receive a temporary lifeline as it struggles to survive a patent dispute with Verizon Communications.
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Verizon Wireless customers are suing  the mobile service provider, claiming that it is selling a cell  phone with fewer Bluetooth short range radio features than they  expected, the plaintiffs' lawyer said on Thursday
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Â A VOIP (voice over IP) service offered by Vonage Holdings Inc. is not subject to the public utility regulations of individual U.S. states, the U.S. Federal Communications Commission (FCC) declared Tuesday.
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A U.S. jury found that Vonage Holdings  Corp  had infringed patents owned by Sprint Nextel Corp   and ordered the Internet phone company to pay $69.5  million in damages, triggering a 34 percent fall in its shares.
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Settlement is latest in a string of patent cases against Internet phone company. Vonage has settled disputes with Sprint, Verizon in recent months.
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Verizon Communications and Vonage Holdings settled a patent-infringement lawsuit with Vonage agreeing to pay as much as $120 million.
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(InfoWorld) - Vonage lost less money in the fourth quarter of 2006 than a year earlier, but it didn't attract as many new subscribers to its VoIP service despite heavy marketing. The company, a pioneer in selling phone service that uses packet data networks instead of traditional circuits, now faces competition from cable operators and the established telecommunications carriers. The big players recognize the potential cost benefits of the technology as well as its flexibility, including the ability to give subscribers a browser-based portal for using voice mail and changing service preferences. But those big players are also bundling VoIP with other services, such as broadband Internet access and TV. Vonage ended the fourth quarter with a net gain of 166,267 subscriber lines, bringing its customer base to more than 2.2 million. But that was less than the 204,591 subscribers it gained the previous quarter as well as its gain in the fourth quarter of 2005, when it added 207,252 subscribers. Revenue soared to $181 million, up 91 percent from a year earlier, and the company's net loss narrowed. Vonage lost $65 million, or $0.42 per share, compared with a loss of $72 million in the fourth quarter of 2005. The company's margins also improved, according to a statement Thursday. But Vonage has built its business on being an early mover and drawing a big base of customers that can later drive profits. The company's marketing costs still amounted to 53 percent of revenue in the fourth quarter, although this was down from 71 percent a year earlier. Vonage still expects to reach its goal of making an operating profit, adjusted for certain factors, as early as the first quarter of 2008, the statement said. The company's stock (VG) dropped sharply after its initial public offering on the New York Stock Exchange last May at $17. Among other things, investors worried about the company's losses and growing competition. On Thursday afternoon, the share price was down $0.42 at $5.42. Â