Stock News: Nokia sues Longcheer's rivals!

China-based cellphone maker Longcheer fell after Nokia Corp sued two of Longcheer's rivals for making and selling cell phones that allegedly copy the design of Nokia's 7260 cell phone, dealers said. Investors fear that if Nokia wins its case against Shenzhen Telsda Mobile Communication Industry Developing Co and Song Xun Da Zhong Ke Electronic Co, the case could pave the way for more law suits by international cellphone makers against other Chinese cellphone makers. "Some of Longcheer's designs resemble those of Sony Ericsson and Motorola. If Nokia wins, we cannot rule out the probability that Longcheer will be sued for its designs by the other two," UOB Kay Hian analyst Frank Rong said in a note to clients. Longcheer was down 0.01 sgd or 1.17 pct at 0.845 with 1.28 mln shares changing hands.