Published on 25 Apr 2023 on Benzinga via Yahoo Finance

Chinese Drone Maker DJI Loses Trial, Textron Wins Patent Infringement Ruling

U.S. aerospace company Textron Inc (NYSE: TXT) won a $279 million ruling on Friday against Chinese drone maker DJI Technology for patent infringement by the latter, Reuters reports.After a week-long trial, the jury agreed with subsidiary Textron Innovations Inc that DJI's drones violated the rights of two drone flight control systems.A DJI spokesperson proposed to contest the ruling and stated, "Textron is a military helicopter company. DJI is a civilian drone company. No commonality exists between the technologies."Textron prosecuted DJI in 2021, claiming several types of DJI drones with automatic hovering capabilities work in the same way as its patented technology.Last October, the U.S. Department of Defense banned Americans from investing in DJI and other Chinese companies, citing their ties to the Chinese military.Price Action: TXT shares closed higher by 0.10% at $68.00 on Monday.