Apple Goes For The Kill
Apple (NASDAQ:AAPL) is seeking higher damages from Samsung than it was awarded by a U.S. jury last month in a patent infringement case against the smartphone rival.
In August, a California jury ruled that Samsung had wilfully infringed several design and user-interface features of Apple’s iPhone, and awarded the Cupertino-based company $1.05 billion in damages. The two companies will return to court in December to hear the result of an application by Apple for a sales ban on some of Samsung’s smartphones and tablets.
Apple is now demanding more extensive damages ahead of that hearing, calling for the award to be increased by $707 million. In a court hearing on September 21, Apple said the initial award was insufficient to compensate it for the “lasting harm” it had suffered, according to a Financial Times report.
Apple is also calling for a U.S. sales ban on 26 of Samsung’s mobile devices. Though most of the devices are older models that contribute little to Samsung’s revenues, Apple also wants to ban smartphones and tablets “not colorably different” from the named devices, which could threaten newer products such as the recently-released Galaxy S3 phone.
In its response to the jury ruling, Samsung called for a re-trial, arguing that it had not been treated fairly in the original hearing. Samsung also questioned the size of the damages awarded, saying they were based on erroneous calculations of its own profits as well as Apple’s lost sales.
Samsung isn’t the only company reeling after its defeat — Apple’s win over the world’s top-selling smartphone maker is also a victory over Google (NASDAQ:GOOG) and its Android platform. The once amicable companies have become rivals of late, culminating in Apple dumping Google Maps and YouTube in its most recent iOS update, out last week. Samsung, the only company that out-sells Apple in the smartphone market, uses the Android platform to run all of its devices. If Apple successfully takes a bite out of Samsung’s sales, Google will feel it in declining market share. Android is currently the dominant mobile operating system in the world.
Apple has been a huge winning stock pick for Wall St. Cheat Sheet Newsletter subscribers. Don’t waste another minute — click here and get more of our CHEAT SHEET stock picks now.