CNBC: ‘I’m not going to sit idly by’ — Sonos CEO on suing Google over patent infringement by Kevin Stankiewicz
Sonos CEO Patrick Spence told CNBC on Thursday that the speaker maker’s decision to sue Google over patent infringement was born of necessity.
“I’m not going to sit idly by because there’s real value” in our patented technology, Spence said on “Squawk Alley.”
“That’s not the way it should work in America for a small innovative company. At the end of the day, we went out. We did the work,” he said. “I owe it to everybody at Sonos to stand up for our innovation and protect what we invented.”
Spence’s comments come as shares of Sonos soared about 13% following a stronger-than-expected earnings report. The stock also hit a 52-week high of $16.88 on Thursday as investors reacted to the success of Sonos’ new product offerings during the holiday season.
Sonos sued Google in early January for patent infringement, arguing the search engine giant used technology developed by Sonos that allows smart speakers to wirelessly play music across different rooms.