Northern, WI 03/05/2013 (usmarketsdaily) - Samsung Electronics Co., Ltd (KRX:005930) has already won a reduction of close to 45 percent of $1.05 billion that it had claimed in patent damages but said that it will be filing for a further review of those that had been awarded to Apple Inc (NASDAQ:AAPL). On March 1, Lucy Koh the U.S District judge in San Jose, California cut the damages that had been awarded on finding that the jury’s decision had been based on an incorrect legal theory. The south Korea-based Samsung Electronics Co., Ltd (KRX:005930)’s spokesperson, Nam Yi Kung said that the company was pleased to announce that the court had decided to strike and amount of $450,514,650 from the total that had been awarded by the jury to Apple Inc (NASDAQ:AAPL) and said that the company now seeks that the award be reviewed further.
Across four continents
Both, Samsung Electronics Co., Ltd (KRX:005930) and Apple Inc (NASDAQ:AAPL) have been fighting patent disputes over four continents and each have scored victories over the other. In 2011, Apple had accused Samsung of blatantly copying its devices and the battle continues. The prize is dominance over the ever-growing mobile market, this in a scenario in which Apple Inc (NASDAQ:AAPL) is one of Samsung Electronics Co., Ltd (KRX:005930) ‘s biggest customers. Previously, Koh had rejected Apple’s bid to ban the sales of 26 Samsung-manufactured devices in the U.S in addition to rejecting the company’s request to increase the award. The judge averred that the amount that Samsung owed Apple was a highly-disputed one and the jury is not bound to accept the damage-estimates that either side puts up.
Fresh trial
Koh has now ordered a fresh trial on damages for certain Samsung products and said that both the concerned companies should consider an appeal to her ruling before the trial commences. Koh went on to say that the jury had relied on the testimony an Apple witness had presented and the theory had been ruled by the court to be legally impermissible. She said that the jury had applied the impermissible theory despite her express instruction that it should not be applied.
Shares of Samsung Electronics Co. Ltd (KRX:005930) went up by 0.71% to close at $1.550, 000.00
Shares of Apple Inc (NASDAQ:AAPL) went down by 2.42% to close at $420.05
