26 Aug '12, 5am

Samsung Must Pay $1 Billion To Apple

Samsung Must Pay $1 Billion To Apple

On Friday, a nine-person California jury awarded Apple $1,051,855,000 in damages and ruled that South Korean electronics company Samsung had infringed six of the seven patents for Apple mobile devices . Apple had actually asked for $2.75 billion in damages; Samsung had sought $421 million in a countersuit but received nothing. Apple, now the most valuable company in the US, saw its stock rise to $675.11, its highest ever after the verdict. Money, Money and More Money Apple does not exactly need another million dollars and it won’t be receiving the award anytime soon as Samsung is planning to appeal. The case will now be reviewed on the federal circuit, CNET points out, and both sides will be back in court on September 20 when Apple will seek to ban the sale of Samsung smartphones and tablets that infringe on patents . The decision also means that Samsung and other Android ...

Full article: http://www.care2.com/causes/samsung-apple-1-billion.html

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