Qihoo 360 loses suit against Tencent

0 Comment(s)Print E-mail Xinhua, March 28, 2013
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Qihoo 360, a leading Chinese antivirus software developer, lost a lawsuit that it filed against Tencent, China's biggest Internet company, over the latter's abuse of its dominant market position, according to a court ruling issued on Thursday.

Tecent did not create a monopoly and all of Qihoo 360's appeals have been rejected, according to a ruling from the Guangdong Provincial Higher People's Court.

Qihoo 360 was also ordered to pay 790,000 yuan (125,912 U.S. dollars) to Tencent in legal fees.

Qihoo 360 sued Tecent in October 2011 for hindering market competition and abusing its market position. It also asked for 150 million yuan in compensation from Tencent.

The trial lasted for nearly a year after the Guangdong Provincial Higher People's Court began court proceedings on April 18, 2012. The court had tried to mediate between the two sides but failed. Endi

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