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Benzinga
Benzinga
National
Anusuya Lahiri

Why Are Sonos Shares Trading Higher?

  • Sonos Inc (NASDAQ:SONO) won a U.S. trade agency ruling that will limit the imports of some phones, laptops, and speakers made overseas by Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Bloomberg reports.
  • The U.S. International Trade Commission issued the ban on December 6 after affirming a judge's findings that the devices were using Sonos's patented inventions for home-audio systems without permission. 
  • Google has 60 days to implement pre-approved software changes to avoid the ban. 
  • Google needs to stop selling products that have already been imported that infringe the Sonos patents, the commission said.
  • The report noted that the case involved many Google products with sound systems, like the Nest Hub, Nest Wifi point, Pixel smartphones, and Pixelbook laptops.
  • Sonos has said its ultimate goal is to have Google pay royalties.
  • Price Action: SONO shares traded higher by 3.64% at $29.93 on the last check Friday.
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