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FX.co ★ Samsung to pay Apple $120 million in patent suit

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Forex Humor:::2014-05-09T05:40:00

Samsung to pay Apple $120 million in patent suit

On Friday May 2, the jury in San Jose, California affirmed the infringement of two Apple patents. Now the South Korean electronics giant Samsung has to pay the American rival $119.6 million, Reuters says.
Nevertheless, the court declined to consider the case on two other patents. The court resolved that the US corporation must compensate Samsung $158.4 for the infringement of one patent. The iPhone maker sought as much as $2.2 in damages. Thus, the decision of the judges cost Apple a lot of money.
Samsung’s share in the smartphone market shrank to 31.2 percent this year compared with 32.4 percent a year ago. Even the fact that the company is the largest smartphone producer in the world did not help it to hold the previous position. Its main counterpart Apple accounts for 15.3 percent of the industry versus 17.5 percent earlier. Apple reported that it sold 43.7 million iPhones from January to March that is 17 percent higher than the sales volume of the same period of the last year.

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