Samsung Vows to Launch GSIII Despite Apple Suit
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Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 2.7%
EPS Growth %: -18.0%
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Samsung is vowing to start selling its Galaxy S III later this month despite a lawsuit by Apple (NASDAQ: AAPL) on Tuesday to block its launch, claiming patent infringement. The Galaxy S III has been called an 'iPhone killer' by proponents and was recently launched in Europe.
"Samsung believes Apple's request is without merit. We will vigorously oppose the request and demonstrate to the court that the Galaxy S III is innovative and distinctive," the South Korean firm said in a statement.
Samsung overtook Apple in terms of smartphone sales earlier this year, but the two tech giants continue to battle it out. There have been dozens of legal actions between the two firms, and they were recently ordered by the courts in the U.S. to try to negotiate, but talks broke down and the lawsuits are once again piling up.
Interestingly, Samsung is also a big supplier of Apple.
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"Samsung believes Apple's request is without merit. We will vigorously oppose the request and demonstrate to the court that the Galaxy S III is innovative and distinctive," the South Korean firm said in a statement.
Samsung overtook Apple in terms of smartphone sales earlier this year, but the two tech giants continue to battle it out. There have been dozens of legal actions between the two firms, and they were recently ordered by the courts in the U.S. to try to negotiate, but talks broke down and the lawsuits are once again piling up.
Interestingly, Samsung is also a big supplier of Apple.
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