Speed Responds: Final Settlement Follows Friendly Negotiations

HP and Speed Infotech have reached a final settlement over their patent dispute.

Hewlett-Packard Development Company, L.P. (HP) and Shanghai Yinjia International Trading Co., Ltd, the Shanghai branch of SPEED INFOTECH Holding Ltd. (Speed Infotech) entered into the final settlement agreement process in December 2015, after friendly negotiations regarding their patent dispute.

Previously RT Media reported HP was instructed to enter mediation by the newly formed Shanghai IP Court in China.

Acknowledging the validity and enforceability of the related HP patents, Speed Infotech agreed to cease offering or selling any products covered by those patents in China and other countries where those patents are valid.

In a statement shared with RT Media, Speed Infotech states: “Since the very beginning of its establishment in 2001, SPEED INFOTECH has always been devoting much attention to product research and development, and investment into proprietary technology, treasuring the SPEED brand reputation, as well as valuing the intellectual property of any other companies with respect, without manufacturing, import, and sale of any product that may infringe the intellectual property rights.”
Speed Infotech added that company management wants to express its great appreciation and gratitude to its clients and partners who have offered them tremendous, loyal support.  Speed Infotech will continue devoting resources to research, development and manufacturing of remanufactured printing technology and products. “We strive to offer our clients best-in-class products and create more win-win development opportunities. We look forward to becoming a true strategic partner of our clients with sustainable development.”

SPEED INFOTECH Holdings Ltd.
April 2016