logo
  Join        Login             Stock Quote

Samsung Drops Apple (AAPL) Suits In Europe After US Ruling

 December 18, 2012 11:50 AM
 


(By Balaseshan) Samsung Electronics Co. reportedly decided to drop its suit against Apple Inc. (NASDAQ: AAPL) in five European countries, hours after a California judge denied Apple's request to ban 26 Samsung devices.

Samsung would drop its injunction applications against Apple Inc. in Germany, France, the U.K., Italy and the Netherlands,  but will continue to pursue lawsuits in Europe where it alleges infringements on its products, the Wall Street Journal reported citing a Samsung senior executive.

[Related -Fusion-IO, Inc. (FIO): Can Fusion-IO Q2 Results Cheer Street?]

"Samsung has decided to withdraw our injunction requests against Apple on the basis of our standard-essential patents pending in European courts, in the interest of protecting consumer choice," the company said in a official statement, as quoted by the Forbes.

U.S. District Court Judge Lucy Koh denied Apple's request on the grounds that Apple had failed to prove the infringing products harmed iPhone sales enough, according to the WSJ report.

[Related -Google Inc (GOOG): Why Nest Labs Deal Is A Wakeup Call For Apple Inc.?]

Judge Lucy Koh found that Apple had not adequately demonstrated that it would suffer irreperable harm if 26 Samsung devices were pulled from the market, according to PCMag.

"The fact that Apple may have lost customers and downstream sales to Samsung is not enough to justify an injunction. Samsung may have cut into Apple's customer base somewhat, but there is no suggestion that Samsung will wipe out Apple's customer base or force Apple out of the business of making smartphones," Judge Koh ruled in a court filing, as quoted by the WSJ.

Koh is also considering Samsung's request to reduce the $1.05 billion verdict awarded to Apple in August in the case, according to the WSJ.

AAPL is trading up 1.03% at $524.15 on Tuesday. The stock has been trading between $380.48 and $705.07 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageThree Stocks to Consider in a Hot Sector

Healthcare stocks have performed handsomely in August, at least so far anyway. For instance, First Trust read on...

article imageOmniVision Technologies, Inc. (OVTI) Q1 Earnings Preview: Hard to See Sales Up, EPS Down

OmniVision Technologies, Inc. (NASDAQ:OVTI) will release its financial results for the first quarter of read on...

article imageAvago Technologies Ltd. (AVGO) Q3 Earnings Preview: Going For 20 in a Row

Avago Technologies Ltd. (NASDAQ:AVGO) will report its third quarter fiscal year 2014 financial results and read on...

article imageLevel 3 Communications, Inc. (LVLT): A Good Time To Buy Says Macquarie

On a day Wall Street is struggling to advance, Level 3 Communications, Inc. (NYSE:LVLT) is having no such read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.