Saturday, August 25, 2012

Apple creams Samsung, awarded over $1 billion damages




From Reuters: Apple Inc. scored a sweeping legal victory over Samsung on Friday as a U.S. jury found the Korean company had copied critical features of the hugely popular iPhone and iPad and awarded the U.S. company $1.051 billion in damages.

The verdict -- which came much sooner than expected -- could lead to an outright ban on sales of key Samsung products and will likely solidify Apple's dominance of the exploding mobile computing market. A number of companies that sell smartphones based on Google's Android operating system may now face further legal challenges from Apple, a company that is already among the largest and most profitable in business history.

The jury deliberated for less than three days before delivering the verdict on seven Apple patent claims and five Samsung patent claims -- suggesting that the nine-person panel had little difficulty in concluding that Samsung had copied the iPhone and the iPad.

Shares in Apple, which just this week became the biggest company by market value in history, climbed almost 2 percent to a record high of $675 in after-hours trade...

Read all about it at http://www.reuters.com/article/2012/08/24/us-apple-samsung-trial-idUSBRE87N13V20120824

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