Patent Infringement Charges: After deliberating for several days, US federal jury ruled on Thursday that Samsung Electronics (GREY:SSNLF) must pay $539 million USD to Apple (NASDAQ:AAPL) for copying patented features for Apple’s smartphones.
According to a recent article from GlobalNews, the two tech companies have been in court since 2011, when Apple first filed a lawsuit declaring Samsung had copied its smartphones and tablets.
In 2012, Samsung was found to be liable for patent infringement. The main issue, in this case, could be contributed to disagreements over the amount that should be paid.
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Patent Infringement Charges
Apple had argued that it was owed approximately $1 billion in damages of profits that were lost due to Samsung, while Samsung wanted to reduce the amount to only $28 million because “it should only pay for profits attributable to the components of its phones that infringed Apple patents.”
Samsung has already paid Apple $399 million “to compensate Apple for infringement of some of the patents at issue in the case.”
According to a recent article from NBCNews, Apple has said in a statement that the lawsuit was about more than just the money as the company “ignited the smartphone revolution with [the] iPhone and it is a fact that Samsung blatantly copied [their] design.”
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Samsung has said in a statement that they are “[considering] all options to obtain an outcome that does not hinder creativity and fair competition for all companies and consumers.”
The share value of Samsung went up 2.53% on Friday and closed at KRW 52,700.00, or approximately $48.91 USD. Comparatively, Samsung closed at a share value of KRW 51,400.00, or around $47.70.
The share value of Apple also increased by almost 0.75% and, as of 1:00 pm EDT on Friday, the company was hovering near a share value of $189.50. The company had reached a high of $189.65 and a low of 187.65.
Comparatively, Apple closed a share value of $188.15 on Thursday.
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