Apple vs. Samsung: It’s Peace Time For Now

iphone 8 apple stockElisaRiva / Pixabay

Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co. Ltd. (LON:BC94) (KRX:005930) have finally given their agreement to attend a mediation session. The companies said in a court filing that the session will be held before February 19, as they gear up to clash again in March in court over patent infringements. The mediation session is aimed at resolving the disputes before the next trial begins in March in San Jose, California. District Judge Lucy Koh asked both parties in November to submit a settlement discussion proposal ahead of the trial.

Apple CEO to meet Samsung CEO

Apple Inc. (NASDAQ:AAPL) and its South Korean rival said they will retain a mediator with extensive experience in mediating high-profile disputes. The court filing didn’t name the mediator. Apple Inc. CEO Tim Cook and Samsung Electronics Co. Ltd. (LON:BC94) (KRX:005930) chief Oh-Hyun Kwon along with 3-4 in-house lawyers from each party will be attending the session. There will not be any outside attorneys.

Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co. Ltd. (LON:BC94) (KRX:005930) have tried in the past to reach a settlement, but failed. Two of the world’s largest tech companies met twice in 2011 to discuss a settlement before the U.S. International Trade Commission. A year later, U.S. Magistrate Judge Joseph C. Spero led the negotiations, according to the filing.

Apple seeks ban on Samsung products

Apple Inc. (NASDAQ:AAPL) and the Asian juggernaut are embroiled in legal clashes in several countries to establish their supremacy in the smartphone market. Apple Inc. (NASDAQ:AAPL) has sought an order to ban the U.S. sales of Samsung Electronics Co. Ltd. (LON:BC94) (KRX:005930)’s products that infringed its patents, but are no longer sold in the U.S. Apple Inc. (NASDAQ:AAPL); said court injunction will prevent Samsung Electronics Co. Ltd. (LON:BC94) (KRX:005930) from launching the same smartphones under a different name. The Cupertino-based company has been awarded $930 million in damages after the court found that many of the Korean company’s devices have violated its patents.

In December, Apple Inc. (NASDAQ:AAPL) said it has paid outside lawyers more than $60 million to fight the legal battle against Samsung Electronics Co. Ltd (LON:BC94) (KRX:005930).

Apple Inc. (NASDAQ:AAPL) shares jumped 0.39% to $545.60 in pre-market trading Thursday.

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About the Author

Vikas Shukla
Vikas Shukla has a strong interest in business, finance, and technology. He writes regularly on these topics. - He can be contacted by email at [email protected] and on Twitter @VikShukla10

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