Samsung on Apple: There Will Be No Love Pact

  Google+  Twitter | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Hopes have risen for a possible legal settlement between bitter smartphone rivals Samsung and Apple (NASDAQ:AAPL) ever since the iPhone maker struck a friendship pact with HTC, also one of its Google (NASDAQ:GOOG) Android competitors.  However, if one Samsung executive is to be believed, respite is nowhere in sight.

Shin Jong-kyun, Samsung’s head of mobile and IT, told reporters that the company had no intention on negotiating a settlement with Apple. “It may be true that HTC may have agreed to pay 300 billion won ($276 million) to Apple, but we don’t intend to (negotiate) at all,” Shin told reporters, according to Yonhap News.

Our 20-page proprietary analysis of Apple’s stock is ready. Click here and to get your Cheat Sheet report now!

Earlier this week, Apple and HTC announced a 10-year agreement that settles all their patent cases against each other and fixes a licensing price for the use of patents within that period. While financial terms of the deal were not made public, according to one analysis, Apple will receive a fee of between $6 and $8 for every HTC Android phone sold.

Apple has been involved in patent battles around the world with several of its Android smartphone rivals over the past couple of years.

Don’t Miss: Here’s How Samsung Can Hurt Apple Some More.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business