Just two days ago, we shared the news that Apple Inc. (NASDAQ:AAPL) and Samsung were going to a court-mandated settlement meeting to find a resolution regarding patent theft allegations. Apparently, the plan didn’t work and now there are plans underway for a trial later this summer.
One official from Samsung said that neither party could find a clear agreement. The chief executive of Apple Tim Cook and the chief executive of Samsung Choi Gee-sung met up for two days to talk about their beliefs. Apple claims the South Korean-based tech company copied the designs of the iPad and iPhone. Samsung claims that Apple needs to pay up royalties for using their wireless transition technology.
In his first-quarter letter to investors of Greenlight Capital, David Einhorn lashed out at regulators. He claimed that the market is "fractured and possibly in the process of breaking completely." Q1 2021 hedge fund letters, conferences and more Einhorn claimed that many market participants and policymakers have effectively succeeded in "defunding the regulators." He pointed Read More
As I mentioned the report two days ago, it’s highly unlikely that Apple will back down- they’re in for the win. It’s also important to point out that given the history of Apple’s success at winning litigation is high, maybe Samsung should reconsider their strategies.
When former CEO Steve Jobs led the company and introduced the first iPhone back in 2007, he filed over two hundred patents to protect the device. Samsung’s patents are almost as abundant, but since many of them regard technologies that Apple uses in their products, their arguments may not uphold so well in court. I guess we will just have to wait and see what happens in the next few months.
Now that this case is going to become an official court case, I wonder how this is going to affect both Apple and Samsung. Will this lower their values on the stock market and will it halt production? Since the case involves the chief executive officers, it’s probably going to have a significant effect on the company, especially if the trial last more than three days. Let’s just hope that the whole trial is a rather speedy one.