Samsung Electronics Co., Ltd. (LON:BC94) Bytes Apple Inc. (NASDAQ:AAPL) In Patent Case, As Judge Lucy Koh Strikes Again
Apple lost a battle in its courtroom war with Samsung Electronics Co., Ltd. (LON:BC94) today in California, when Judge Lucy Koh ruled against a request by Apple to delay lifting the temporary ban of Samsung Electronics Co., Ltd. (LON:BC94) selling its Galaxy Tab 10.1 tablet. A hearing was scheduled for December 6th, to determine whether or not to ban the sale of certain Samsung products completely in the United States, and Apple Inc. (NASDAQ:AAPL) had asked that this hearing be delayed, possibly seeking to prolong Samsung’s agony of not being able to release its flagship tablet to the U.S.
David Einhorn’s Greenlight had a strong fourth quarter; Gains on Neubase Therapeutics [Q4 Letter]
David Einhorn's Greenlight Capital was up 5.2% in 2020, underperforming the S&P 500's 18.4% return. For the fourth quarter, the fund was up 25%, which was its best quarterly result ever. Longs contributed 42% during the fourth quarter, while shorts detracted 15% and macro detracted 1%. Q4 2020 hedge fund letters, conferences and more Growth Read More
This is not the first time that Apple Inc. (NASDAQ:AAPL) has found disfavor in the judge’s eyes. You may recall our report of how, as the trial neared its final hours of completion, Apple attorney Bill Lee submitted new witnesses along with 75 pages of paperwork. These actions prompted strong disfavor from the court, and the judge even asked Lee if he was “smoking crack“.
Apple is hoping to block the sale of 8 Samsung products, according to Bloomberg. These products, including the popular Galaxy Tablet, are among Samsung’s most desirable pieces, and the loss of U.S. revenue is sure to hurt Apple’s toughest competitor in the market.
The court had already ruled in favor of Apple Inc. (NASDAQ:AAPL), when a jury awarded the tech giant $1.05 billion in damages relating to Samsung Electronics Co., Ltd. (LON:BC94) having infringed on its patent rights. Samsung has already tried once before, on August 26th to have the ban on the tablet lifted, but the jury found that infringed on 3 of Apple’s patents, and refused the request.
Bloomberg notes that Colleen Patterson and Lauren Vroom, two of Apple’s spokeswomen, have not responded to requests for comments about today’s ruling. It will be interesting to see how this battle plays out in the end, for while Apple Inc. (NASDAQ:AAPL) may have won more than $1 billion in damages, Samsung Electronics Co., Ltd. (LON:BC94) is sure to find a way to recoup the loss. Today’s small victory may be just the beginning of a retaliation campaign against Apple.