Patent violations: Samsung ordered to pay $1b to Apple
Defeat in a bitter patent wrangle with Apple will dent Samsung Electronics’ $21 billion cash-pile.
SEOUL:
South Korea’s Samsung Electronics said Saturday that it will contest a US court ruling that it must pay rival technology giant Apple damages of more than $1 billion for patent violations. “We will move immediately to file post-verdict motions to overturn this decision and if we are not successful, we will appeal this decision to the Court of Appeals,” Samsung said. Defeat in a bitter patent wrangle with Apple will dent Samsung Electronics’ $21 billion cash-pile. A US court has ordered Samsung – which sold around 50 million phones in April-June, almost twice the number of iphones – to pay $1.05 billion (1.5% of Samsung’s annual revenues) in damages. Phones and tablets business is the powerhouse behind Samsung’s growth, earning around 70% of total profit. But its skill as a ‘fast executioner’ – quick to match others’ innovations – would likely mean tweaked, non-patent infringing devices would be on the market soon after any ban came into place.
Published in The Express Tribune, August 26th, 2012.
South Korea’s Samsung Electronics said Saturday that it will contest a US court ruling that it must pay rival technology giant Apple damages of more than $1 billion for patent violations. “We will move immediately to file post-verdict motions to overturn this decision and if we are not successful, we will appeal this decision to the Court of Appeals,” Samsung said. Defeat in a bitter patent wrangle with Apple will dent Samsung Electronics’ $21 billion cash-pile. A US court has ordered Samsung – which sold around 50 million phones in April-June, almost twice the number of iphones – to pay $1.05 billion (1.5% of Samsung’s annual revenues) in damages. Phones and tablets business is the powerhouse behind Samsung’s growth, earning around 70% of total profit. But its skill as a ‘fast executioner’ – quick to match others’ innovations – would likely mean tweaked, non-patent infringing devices would be on the market soon after any ban came into place.
Published in The Express Tribune, August 26th, 2012.