Samsung Electronics started the week by facing consequences of having definitively lost to Apple in their U.S. patent lawsuit. Its shares fell by more than 7 percent Monday morning, wiping nearly $12 billion off Samsung?s market value.
In a landmark legal decision late Friday, a federal jury in San Jose, Calif. determined [PDF]?that Samsung infringed on several patents held by Apple, and called for more than $1 billion in damages.
Samsung, which already declared its intention to appeal, said in a statement: ?Today?s verdict should not be viewed as a win for Apple, but as a loss for the American consumer.?
The Aug. 24 ruling affects 21 Samsung devices, all except two of the devices Apple named in its suit. Each was evaluated individually, with the top three infringers being Samsung?s Epic 4G., the Fascinate, and the Galaxy S II Epic 4G Touch (pictured).
Three patents proved to be the most crucial: Patent 381, which includes inertial scrolling and the ?rubber band? effect; Patent 163, which covers zooming in by tapping; and Patent 915, a programming interface for gestures. Several design elements were also determined to infringe.
Samsung circulated a memo to employees that it has now translated into English and made public on its blog. In it, the Korean company said this latest verdict runs contrary to previous rulings in United Kingdom, the Netherlands, Germany and Korea.
?History has shown there has yet to be a company that has won the hearts and minds of consumers and achieved continuous growth, when its primary means to competition has been the outright abuse of patent law, not the pursuit of innovation,? the memo reads. ?We trust that the consumers and the market will side with those who prioritize innovation over litigation, and we will prove this beyond doubt.?
Related links:
U.S. District Court for the Northern District of California ? ruling,?Apple Inc. v. Samsung Electronics Co. Ltd. et al. [PDF]?
Samsung ? memo to employees
All Things D ? Next Stop for Apple-Samsung: Appeals Court
All Things D ? Jury: Samsung Owes Apple More Than $1 Billion for Infringing Patents
Financial Times ? Samsung slams Apple ?patent law abuse?
CNN ? Samsung to fight court ruling in Apple patent dispute
Bloomberg ? Samsung Slumps Most in 4 Years on U.S. Sales Ban Concerns
Reuters ? Samsung shares shed $12 billion after Apple?s legal victory
Wall Street Journal ? Samsung Shares Plunge After Patents Verdict
MarketWatch ? Samsung legal defeat unlikely to hit profit much
USA Today ? Jury: Samsung violated Apple patents, owes more than $1B
Ars Technica ? Apple v. Samsung juror: we ?wanted to send a message?
New York Times ? Jury Awards $1 Billion to Apple in Samsung Patent Case
PC Magazine ? Apple Patent Breakdown: Which Samsung Tech, Gadgets Infringe?
Source: http://www.dmwmedia.com/news/2012/08/27/after-apples-1b-legal-victory-samsungs-shares-drop-7
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