Apple (AAPL) Seeks Billions in Damages from Samsung Over Recent Patent Spat
Tweet
Share
E-mailGet Alerts AAPL Hot Sheet
Price: $291.13 -1.52%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.3%
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple (AAPL) PT Raised to $350 at TD Cowen
- Analysts split on Apple's WWDC as Siri AI debuts with Google tie-up
- Circle board member resigns after nearly 13 years of service
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
