Mark Cuban says Walmart is 'in for a nightmare' for selling the latest craze in gadgets

mark cuban

(Michael Buckner/Getty)

Walmart has announced it will sell the self-balancing scooters called hoverboards that are taking over America.

And Mark Cuban isn't happy about it.

The billionaire entrepreneur who stars on "Shark Tank" recently reached an agreement to buy a patent license for the popular item from an inventor named Shane Chen, according to BuzzFeed.

Chen has filed a patent lawsuit against an American importer of Chinese-made hoverboards called IO Hawk. Buzzfeed notes that Walmart may "face a patent infringement lawsuit" if it sells hoverboards that are made by IO Hawk instead of Chen's company.

"They [Walmart] are in for a nightmare," Cuban wrote in an email to BuzzFeed after learning Walmart planned to sell the scooters online this holiday season.

The scooters will go on sale at Walmart starting around November 1, according to Sapna Maheshwari at BuzzFeed.

The electric scooters have been described as a "hands-free Segway."

Executives at Walmart expect this to be the hot new holiday item. The hoverboards will be for sale only on the website at first.

inventist hoverboard

(Inventist on Facebook)
A model showing off a self-balancing scooter from the company Inventist.

"We've bought deep in this item because our buyers expect it to be a hot holiday gift, possibly as hot as the Razor Scooter since it skews more towards adults," a Walmart.com representative told BuzzFeed.

Celebrities including rapper Wiz Khalifa and singer Justin Bieber have been seen riding hoverboards in recent weeks.

We've reached out to Walmart and will update if we hear back.

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