Samsung Loses $1 Billion in Market Value After U.S. Veto on Apple Ban, Files Appeal Against Patent Ruling
After the Obama administration vetoed a partial ban on the import and sale of some Apple products, Samsung announced that it has been granted a hearing in a US appeals court next year against the original ruling, as reported by the Financial Times. Concurrently, The Wall Street Journal reports that Samsung has lost $1 billion in market value after the weekend veto. The South Korean government has also criticized the decision, saying it had "concern over the possible negative impacts that this kind of decision could have on Samsung Electronics' patent rights".
Samsung revealed on Monday that it had filed a court appeal on July 18 against the original ITC finding, because the ITC ruled that Apple had infringed only one patent, rather than finding in favour of Samsung on all four patents it had claimed were violated.
The appeal was filed at the US Court of Appeals for the Federal Circuit in Washington, a Samsung spokesman said, adding that an oral hearing was scheduled for the first quarter of next year.
Originally, the ban of Apple products was granted back in June in response to a ruling made by the USITC (United States International Trade Commission) and applied to AT&T models of the iPhone 4 and iPhone 3GS, as well as the 3G models of the iPad and iPad 2. The USITC ruled that all four products infringed on a Samsung patent, specifically Patent No. 7,706,348, titled "Apparatus and method for encoding/decoding transport format combination indicator in CDMA mobile communication system."
Apple and Samsung have been in a long, ongoing legal battle that started in 2011, with the first U.S. trial awarding $1 billion to Apple in 2012. However, a judge voided nearly half of that amount in March, and a new trial between the two companies is set for November of this year.
Popular Stories
After announcing new Mac and HomePod models last week, Apple adjusted its trade-in values for select devices in the United States.
iPhone trade-in values decreased by up to $80, and most Android smartphones also went down. Mac trade-in values remained unchanged or increased by up to $40 depending on the model, while some Apple Watch models increased in value and others decreased. Trade-in...
Multiple rumors have suggested that the next-generation iPhone 15 models will adopt the Wi-Fi 6E standard that Apple has already introduced in the iPad Pro and MacBook Pro, and now a leaked document appears to confirm Apple's plans.
Sourced from researcher and Apple leaker Unknownz21 (@URedditor), the document features diagrams of the iPhone 15's antenna architecture. D8x refers to the...
The iPhone 15 will support Wi-Fi 6E, according to a research note shared this week by Barclays analysts Blayne Curtis and Tom O'Malley. The analysts did not specify whether the feature will be available on all models or limited to the Pro models.
Apple has added Wi-Fi 6E support to a handful of devices so far, including the latest 11-inch and 12.9-inch iPad Pro, 14-inch and 16-inch MacBook...
New 14-inch and 16-inch MacBook Pro models with the latest M2 Pro and M2 Max chips are available in Apple retail stores and are already in the hands of customers, and we picked up one of the new M2 Max machines to answer all of the questions MacRumors readers considering a purchase might have.
Subscribe to the MacRumors YouTube channel for more videos. Yesterday, we asked MacRumors fans on...
The new Mac Pro coming later this year is expected to feature the same spacious modular design as the 2019 model, but with fresh concerns over its lack of upgradeability surfacing, some users are beginning to wonder what the transition away from Intel architecture actually means for Apple's most powerful Mac.
The current Intel Mac Pro that Apple sells is popular with creative professionals...
In a recent press release, Apple confirmed that iOS 16.3 will be released to the public next week. The software update will be available for the iPhone 8 and newer and includes a handful of new features, changes, and bug fixes.
Below, we've recapped bigger features in iOS 16.3, including support for physical security keys as a two-factor authentication option for Apple ID accounts, worldwide ...
Apple's next-generation iPhone 15 Pro and iPhone 15 Pro Max are expected to be announced in September as usual. Already, rumors suggest the devices will have at least eight exclusive features not available on the standard iPhone 15 and iPhone 15 Plus.
An overview of the eight features rumored to be exclusive to iPhone 15 Pro models:A17 chip: iPhone 15 Pro models will be equipped with an A17...
Top Rated Comments
You seem to think that the US government acted somehow outside the law. But what they did was actually exactly what they are supposed to do: When the USITC makes a decision, it is actually up to the government to either accept or reject the decision.
You should also note the fact that in the EU, Samsung was threatened with major (multi billion dollar) fines if they should attempt to ban iOS devices over standard essential patents, which is exactly what they managed to do in the USA. If Samsung had gone to a German or French equivalent of the ITC and not the US one, _Samsung_ would have received a major fine.
But someone else found what is likely the reason for the government rejection of the ITC decision which you can check out at here:
http://tech.fortune.cnn.com/2013/08/05/apple-samsung-itc-pinkert/
Dissenting opinion by one of the ITC judges involved. According to this, the ITC decision was very, very wrong in the first place.
Karma's a bitch.
And the US has protected their industries too. Steel companies, airline industry, the automotive industry(chicken tax and the bailouts), etc.
This wasn't simply the government giving Apple special treatment.
I think you mean FRANDemies.
Laws are laws; whether the patent battles are silly or not, a judge rules that a sales ban was necessary and the US government just went over their heads.