“While the jurors may have awarded Apple just over $1bn (£665m) in damages, there was much worse to come for Samsung. Following the result, over $12bn (£7.6bn) was wiped off the company’s market value with its stock price falling 7.5 percent in the South Korean capital Seoul on Monday,” David Gilbert reports for The International Business Times. “The jurors in the case took just two and a half days to deliver their decision, much shorter than most industry watchers had expected, considering they had to fill out a 20-page verdict form, answer 700 complex patent-related questions and weigh-up over 50 hours of evidence presented by Samsung and Apple.”
“The jurors rejected every single one of the South Korean company’s patent claims, and backed Apple’s claim that Samsung had breached US antitrust laws by trying to keep its wireless patents as a monopoly,” Gilbert reports. “Of course Samsung plans on appealing the decision to a higher court, but the initial victory will be a major PR coup for Apple as it continues its smartphone and tablet battle with Samsung and the wider Android ecosystem.”
Gilbert reports, “The full ramifications of what this will mean for Samsung is yet to be made clear, but Apple will now move to get up to 24 Samsung phones banned from sale in the US, including the Samsung Galaxy S2, but this is likely to be strongly challenged by Samsung as it seeks to recover from this hammer blow.”
Read more in the full article here.
Related articles:
Steve Jobs vindicated by Apple v. Samsung verdict – August 28, 2012
Samsung vows to fight Apple’s attempt to ban infringing smartphones in U.S. with ‘all necessary measures’ – August 28, 2012
Apple lists which Samsung products it will seek to ban from U.S. sale – August 27, 2012
Apple shares hit new all-time intraday and closing highs – August 27, 2012
Jefferies: Samsung verdict a ‘huge victory for Apple’; reiterates ‘Buy’ rating, $900 target price – August 27, 2012
Apple kicks Google’s Android in the teeth; $1.05 billion jury award may really be worth $450 billion – August 27, 2012
Samsung vows to keep fighting, calls U.S. verdict ‘regrettable’ – August 27, 2012
Tim Bajarin: Apple could eventually dump Samsung as a component supplier altogether – August 27, 2012
The Apple verdict and the challenge of innovation; It is easier to follow than lead – August 27, 2012
After Apple’s thermonuclear victory over Samsung, Google may be next – August 27, 2012
Some hope Apple’s sweeping patent victory against Samsung, Android is Pyrrhic – August 27, 2012
Samsung shares drop $12 billion after Apple’s court victory – August 27, 2012
Apple v. Samsung jury: Google email iced it for Apple – August 26, 2012
Tim Cook memo to Apple employees: Court victory over Samsung ‘is about values’ – August 26, 2012
Jury finds Samsung willfully violated Apple patents – August 24, 2012