Universal Electronics Inc
) has filed a patent infringement lawsuit against Calif.-based
Peel Technologies Inc (PEEL) in the U.S. District Court,
California. Universal Electronics demands a permanent ban on the
usage of its patents along with monetary damages to be levied on
In order to protect its investments and licenses along with
customers' interests, Universal Electronics had filed this
lawsuit against Peel Technologies, which allegedly infringed five
patents registered at the United State Patents and Trademark
office. The patents infringed included system and method
for setting up remote control, displaying user interface for
remote control application, dynamic linking of code sets in
remote devices, relaying key code signals and hand-held devices
with browser application.
Universal Electronics has invested significantly in
technological advancements for more than two decades. The company
is recognized as a leading innovator in the remote control
industry having over 260 patents and a number of intellectual
property assets in the IR code libraries, smart phones and
tablets. Some of these technologies are also included in the
company's innovative products pipeline.
In Jul 2013, Universal Electronics had filed a similar
lawsuit, against Universal Remote Control for the infringement of
nine patents. The decision for the same is still awaited. Usually
lawsuits or legal battles take a long time for the final
settlement. Therefore, legal matters and pending lawsuits prove
to be a burden on the company's business and might also impact
its consumer confidence going forward.
Universal Electronics designs, develops, and delivers
innovative solutions that enable consumers to control
entertainment devices, digital media, and home systems. The
company's portfolio of technologies and infrared control software
are utilized by companies in the consumer electronics,
subscription broadcast and computing industries.
Universal Electronics currently has a Zacks Rank #1 (Strong
Bel Fuse Inc.
SL Industries Inc
) are two other stocks from the similar industry that also carry
a Zacks Rank #1 (Strong Buy). Also worth mentioning is
), which carries a Zacks Rank #2 (Buy).
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UNIVL ELECTRS (UEIC): Free Stock Analysis
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