Apple (AAPL) Seeks Billions in Damages from Samsung Over Recent Patent Spat
Into Apple's (Nasdaq: AAPL) third-quarter results, one bit of information out Tuesday may bolster some investor enthusiasm.
According to Reuters, Apple said it might be entitled to $2.525 billion in damages from Samsumg.
The partially redacted filing has Apple claiming Samsung owes "substantial monetary damages" because it chose to compete by illegally copying Apple. The dispute stems of technology used in Apple's iPhone and iPad devices.
Apple claims Samsung was able to overtake the Cupertino, CA-based mobile device giant in smartphone sales due to infringement of Apple's patents.
Apple also said it would seek a permanent injunction to stop further violations of the patent.
Samsung, for its part, disagrees with this, saying Apple should pay for the use of its technology. Samsung claims its intellectual property helped Apple to become the company it is today.
Shares of Apple are up 0.3 percent. The Company is expected to report third-quarter results after the close of the market Tuesday.
According to Reuters, Apple said it might be entitled to $2.525 billion in damages from Samsumg.
The partially redacted filing has Apple claiming Samsung owes "substantial monetary damages" because it chose to compete by illegally copying Apple. The dispute stems of technology used in Apple's iPhone and iPad devices.
Apple claims Samsung was able to overtake the Cupertino, CA-based mobile device giant in smartphone sales due to infringement of Apple's patents.
Apple also said it would seek a permanent injunction to stop further violations of the patent.
Samsung, for its part, disagrees with this, saying Apple should pay for the use of its technology. Samsung claims its intellectual property helped Apple to become the company it is today.
Shares of Apple are up 0.3 percent. The Company is expected to report third-quarter results after the close of the market Tuesday.