Apple Inc. (NASDAQ:AAPL) was awarded $290 million in the latest fight with Samsung, which ended this week. That’s a slight reduction from the $400 million in damages which had been vacated by the judge previously. This week’s trial was a retrial on damages because the judge felt like the previous jury did not do the calculations correctly.
Apple and Samsung take jabs at each other
Of course Apple executives laid it on thick in court, with marketing executive Phil Schiller saying that he was “quite shocked” that Samsung “went and copied the iPhone.” That’s according to The Register. Apple Inc. (NASDAQ:AAPL)’s case these last two weeks has focused on how Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) damaged its brand by making devices which look too much like the iPhone.
Samsung’s attorneys had plenty of barbs for Apple, but Apple executives didn’t take anything lying down. The Register quotes Samsung attorney Bill Price as sarcastically saying: “Apple doesn’t own a patent on a product being beautiful or sexy. Isn’t that correct? Apple doesn’t own the right to preclude the design of this hardware?” Of course he was holding one of Samsung’s tablets when he said it.
Top value fund managers are ready for the small cap bear market to be done
During the bull market, small caps haven't been performing well, but some believe that could be about to change. Breach Inlet Founder and Portfolio Manager Chris Colvin and Gradient Investments President Michael Binger both expect small caps to take off. Q1 2020 hedge fund letters, conferences and more However, not everyone is convinced. BTIG strategist Read More
Schiller, however, had a testy remark for that question. His comment was: “I don’t know which Samsung devices are allowed to copy our devices and which ones aren’t.”
Apple chalks this case up as a win
Samsung had been trying to pay just $57 million in damages this time around, so Apple Inc. (NASDAQ:AAPL) apparently sees this as a big win. The company issued a statement after the award was announced, saying that the case “has always been about more than patents and money.” The company emphasized yet again that this war with Samsung was about protecting the Apple brand.
But don’t forget Samsung has plenty of appeals left on this case, so by this is by no means a done deal.