The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia traded lower on Monday afternoon, as a Nasdaq-style technology board on the Shanghai Stock Exchange marked its debut.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
royalties@ (Adds comment from Microsoft)
TAIPEI, March 12 (Reuters) - Taiwan's Foxconn on Tuesday responded to a patent infringement lawsuit filed against it by Microsoft Corp, saying as a contract manufacturer, it has never needed to pay royalties for the U.S. company's software.
Microsoft filed the complaint against Foxconn subsidiary FIH Mobile Ltd in the Northern District of California on Friday. It is claiming unpaid royalties for patents used in devices for clients including a top Chinese smartphone vendor.
Foxconn founder and Chief Executive Terry Gou told an impromptu news conference in Taipei that "patent infringement" is not an issue for his company, which "will suffer almost no any loss" as a result of the lawsuit.
Foxconn "has never paid any patent fees to Microsoft," Gou said.
FIH could not immediately be reached for comment. In a statement, Microsoft said the legal action was related to the royalty reporting and audit terms of a contract it signed with Foxconn parent Hon Hai in 2013.
Microsoft takes its own contractual commitments seriously, and we expect other companies to do the same, " the company said in a statement "Our working relationship with Hon Hai is important, and we are working to resolve our disagreement.
Foxconn, formally Hon Hai Precision Industry Co Ltd, rose to global prominence as assembler of Apple Inc's iPhone.
It received notice of the lawsuit on Tuesday, said a person with direct knowledge of the matter, who was not authorized to speak with news media and so declined to be identified.
Gou was "furious" and will fight back, the person said.
In a Facebook post earlier on Tuesday, Gou questioned why a software company would not earn patent royalties from vendors that made use of software.
"They should not pick on manufacturers," Gou said at the news conference.
Shares of both Hon Hai and FIH were up around 1 percent in afternoon trade, roughly in line with the benchmark share price index. (Reporting by Jeanny Kao and Yimou Lee in Taipei and Stephen Nellis in San Francisco; Writing by Anne Marie Roantree; Editing by Richard Borsuk, Christopher Cushing and Jonathan Oatis)