Apple Inc., the world’s most valuable publicly traded company (Nasdaq: AAPL), said it will stop importing certain watches on Dec. 26 to comply with a patent dispute involving Irvine-base Masimo Corp. (Nasdaq: MASI).
The U.S. International Trade Commission in October ruled that Apple watches violated an oximetry patent owned by Masimo. The ban would include the Apple Watch Series 9 and Apple Watch Ultra 2, Apple said.
“Apple strongly disagrees with the order and is pursuing a range of legal and technical options to ensure that Apple Watch is available to customers,” Apple said, according to the Wall Street Journal.
Shares of Masimo rose 4.9% to $117.19 and a $6.2 billion market cap. The shares have climbed 45% since the ruling was announced Oct. 26.
For more information on the dispute, see this week’s print edition of Orange County Business Journal.