The South Korean Company, Samsung Electronics is about to pay the tech giant, Apple a whopping amount of $539 million or £403 million in lieu of the allegation brought against the former. Samsung was alleged to have copied the basic features from the original iPhone from Apple. On the said legal grounds the companies were going through a tug of war for a long period of time.
The initiation of the battle can be stretched back to 2011 when Apple had alleged that the South Korean company had violated a few patents. On the said allegation, Samsung was penalized worth $1.05 billion on the next year. However, the fight over the amount never ended since then. The latest court patent had ordered Samsung to pay $533.3 million in exchange for violating the 3 design patents from Apple. The remainder of the amount was decided on the basis of the infringement of the 2 patented functions.
After the decision of the court was announced, Apple depicted its happiness by stating that the battle which was being fought has ultimately seen the light of justice. The spokesperson further added that the war between the two most successful electronic companies of the world was not for the money but much more than that. The hard work, innovation, and creativity of the people associated with Apple were at stake for which the penalty charged on the rival is worth the fight. Apple is also happy with the jury members who have seen the correct path even in the crowd of numerous allegations.
On the contrary, Samsung is highly dissatisfied with the decision and believes it to be biased. The spokesperson from the company had also claimed to pay $28 million in exchange for the damages. However, the argument failed as Apple claimed a bigger price. Though the decision has already been taken, the chances of Samsung opting for another appeal can’t be eradicated.
Morgan has been in the position of the business analyst for almost a decade and with such expertise, he is one of the best expert hands with us. His profound understanding of the trade, commerce, and business trends makes him a reliable contributor to blamfluie.com.