Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) have resumed their discussion of ending their ongoing patent battle. This report comes from sources as told to the Korea Times.
A possible settlement between Apple and Samsung
An official reported that the FTC paired up with anti-trust regulators in both the United States and Europe with the hope of talking about the issue. Previously, the companies agreed to submit a proposal for a settlement before the 8th of January. This proposal would have been received by Judge Lucy Koh, who has been overseeing the case since the beginning in 2011.
The official also told the FTC, “As far as I know, the companies recently resumed working-level discussions toward the signing of a potential deal. They are in the process of narrowing differences over royalty payments.”
Another meeting in the works
In 2012, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930)’s chief executive officer Choi Gee-sung had a meeting with Apple Inc. (NASDAQ:AAPL)’s CEO Tim Cook. Both executives had marathon talks which lasted about 17 hours. Unfortunately, these talks got nowhere as Samsung refused to accept the royalty demands from Apple. A source for the South Korean tech giant reports the company’s CEO is gearing up for another marathon chat session with Cook in early 2014.
Whether the two tech giants can reach an agreement remains to be seen. For now, Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) still have very different ideas. The latter wants to sign a cross-licensing deal which would allow Samsung to access their number one competitor’s patents. Apple Inc. (NASDAQ:AAPL) still wants Samsung to pay over $30 per device that violates their patent rights. Officials who are knowledgeable on this matter speculate the companies could speed up the process. This would save both money and time for both of the companies. A resolution would be a win-win situation for both companies as it would allow them to solve the issue once and for all and get back to the things that really matter.