India investigates Ericsson over patent suit, Swedbank upgrades

The Indian government is set to investigate Ericsson (ERIC +1.1%) over the patent royalty rates it's seeking from local phone OEM Micromax, which Ericsson sued for infringement in March.

While Ericsson wants royalty rates tied to the sale price of a phone (common in many mobile licensing deals), Micromax argues the price should be based on a fixed value assigned to the IP being used. Ericsson, which has a large stable of standards-essential 2G, 3G, and 4G patents, has been seeking a deal on FRAND terms.

Ericsson is in the midst of a similar patent dispute with Samsung; the ITC has been drawn into that one.

Separately, Swedbank has upgraded Ericsson to Buy this morning. Shares of the mobile infrastructure leader are up 24% YTD.

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