SiRF Plummets on Patent Suit Ruling
Shares of Sirf plunged 24% to $2.44 Monday after word spread that the U.S. International Trade Commission ruled its chips infringed on several Broadcom patents. The Street notes this is just one in a number challenges in recent years:
According to iSuppli, an industry research firm, Sirf had more than a 90% share of the market for GPS chips in cell phones in 2006. In the first quarter of 2008, Sirf’s share had dwindled to 36%, while Texas Instruments(TXN - Cramer’s Take - Stockpickr) had grabbed 35% and Infineon(IFX - Cramer’s Take - Stockpickr) had 21%.
SiRF now has little to offer a buyer and the analysis seems to point straight down for the GPS chip maker.
by Adena Schutzberg on 08/12 at 06:00 AM |
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