Industrialist Vijay Mallya on Wednesday announced the exit of his spirits-to-aviation group from Kingfisher Red, the low-cost airline operations, and said a Rs.2,000 crore rights issue will be pursued to spruce up the financials.
"Yes, we are doing away with Kingfisher Red. We don't intend to compete in the low-cost segment. But all is not gloom and doom," Mallya said at a press conference here soon after informing shareholders on the latest cost-cutting and revenue generating measures.
Osram has claimed Samsung and LG infringed its patents on white and surface-mountable LEDs.
It said it would seek compensation, adding various prominent companies worldwide have taken royalty-bearing licenses on its conversion technology.
LG said on Wednesday products from BMW and Audi infringed seven of its patents relating to LED chips and packaging technologies.