Samsung Loses $1 Billion in Market Value After U.S. Veto on Apple Ban, Files Appeal Against Patent Ruling

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Aug 5, 2013.

  1. macrumors bot

    MacRumors

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    After the Obama administration vetoed a partial ban on the import and sale of some Apple products, Samsung announced that it has been granted a hearing in a US appeals court next year against the original ruling, as reported by the Financial Times. Concurrently, The Wall Street Journal reports that Samsung has lost $1 billion in market value after the weekend veto. The South Korean government has also criticized the decision, saying it had "concern over the possible negative impacts that this kind of decision could have on Samsung Electronics' patent rights".

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    Originally, the ban of Apple products was granted back in June in response to a ruling made by the USITC (United States International Trade Commission) and applied to AT&T models of the iPhone 4 and iPhone 3GS, as well as the 3G models of the iPad and iPad 2. The USITC ruled that all four products infringed on a Samsung patent, specifically Patent No. 7,706,348, titled "Apparatus and method for encoding/decoding transport format combination indicator in CDMA mobile communication system."

    Apple and Samsung have been in a long, ongoing legal battle that started in 2011, with the first U.S. trial awarding $1 billion to Apple in 2012. However, a judge voided nearly half of that amount in March, and a new trial between the two companies is set for November of this year.

    Article Link: Samsung Loses $1 Billion in Market Value After U.S. Veto on Apple Ban, Files Appeal Against Patent Ruling
     
  2. macrumors regular

    Jack97

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    #2
    This whole affair needs to stop now. It's so childish.
     
  3. macrumors 6502a

    pirg

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  4. macrumors 68030

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  5. macrumors 68040

    ValSalva

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    #5
    What's a billion dollars here and there between frenemies? :D
     
  6. macrumors 65816

    Four oF NINE

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    #6
    I don't even understand how this is a big deal.. Those iPads are obsolete, so is the iPhone 3G, 3GS, and the 4 will be as well in a few weeks.
     
  7. macrumors member

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    #7
    Not surprised. The veto was a really, really stupid thing to do. These devices aren't on sale anymore, with the exception of the iPhone 4 which is soon to be redundant too. It looks like Apple is being uniquely protected by the American government - its the sort of thing you might expect of a news report out of China, not the States.

    Laws are laws; whether the patent battles are silly or not, a judge rules that a sales ban was necessary and the US government just went over their heads.
     
  8. macrumors 6502a

    Serelus

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    #8
    What did samsung expect? From Apple news lately we all know several governments in the US started using Apple products in bulk. So a ban would kind of not work out well in that regard?
     
  9. macrumors regular

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    #9
    I think it is more a reaction to that Samsung's future SEP litigations will also fail.
     
  10. macrumors regular

    Ursadorable

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    #10
    They may have bamboozled the courts, but Samsung's obvious copying of the iPhone/iPad have finally come to bite them in the ass.

    Karma's a bitch.
     
  11. macrumors 68020

    Xavier

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    #11
    I think you mean FRANDemies.
     
  12. macrumors 6502a

    pirg

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    #12
    The power to veto is also part of the laws of the land. Checks and balances or something
     
  13. macrumors 603

    quagmire

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    #13
    You don't think South Korea protects their industries too? South Korea, China, Japan, etc are all very protective of their industries.

    And the US has protected their industries too. Steel companies, airline industry, the automotive industry(chicken tax and the bailouts), etc.

    This wasn't simply the government giving Apple special treatment.
     
  14. macrumors G5

    gnasher729

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    #14
    You seem to think that the US government acted somehow outside the law. But what they did was actually exactly what they are supposed to do: When the USITC makes a decision, it is actually up to the government to either accept or reject the decision.

    You should also note the fact that in the EU, Samsung was threatened with major (multi billion dollar) fines if they should attempt to ban iOS devices over standard essential patents, which is exactly what they managed to do in the USA. If Samsung had gone to a German or French equivalent of the ITC and not the US one, _Samsung_ would have received a major fine.

    But someone else found what is likely the reason for the government rejection of the ITC decision which you can check out at here:

    http://tech.fortune.cnn.com/2013/08/05/apple-samsung-itc-pinkert/

    Dissenting opinion by one of the ITC judges involved. According to this, the ITC decision was very, very wrong in the first place.
     
  15. macrumors newbie

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    #15
    Samsung can hit back

    Since Samsung has become the supplier of Apple again, can they find another way of dealing with apple?
     
  16. macrumors 6502

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    #16
    It's the opposite. Apple's suing Samsung came back and bit them in the ass with this ITC ruling, but due to unknown behind the scenes dealings the President showed that Apple is above the law. This will not go down well with a lot of people and at the end, it will hurt Apple more than you'd think.
     
  17. macrumors 603

    apolloa

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    #17
    So how long until this thread turns into a political battle and gets closed too then? You know seeing as it invites people to breach the Mac Rumors rules by discussing politics in news articles?
     
  18. macrumors G5

    Rogifan

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    #18
    Oh good grief. Samsung stock was down ~1% today. Big deal. Apple had lost billions in market value in a single day for no reason many times. This really is a non story.
     
  19. macrumors 6502

    jm001

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    #19
    FTW! Nice one#
     
  20. macrumors member

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    #20
    Well lets face it, you have to protect YOUR companies. Who else would supply NSA/CIA and other agencies with all those personal information :)
     
  21. Moderator

    balamw

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    #21
    MOD NOTE: This thread is not in PRSI. If you wish do make politically charged posts about this, please start a new thread there.

    Overtly political posts will be removed as Off Topic in this thread.

    B
     
  22. macrumors 603

    apolloa

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    #22
    Sigh, the president hasn't done anything, it was his ADMINISTRATION who dealt with it all, and over on 9to5mac they are already discussing how Apple is actually falling out with the White House with incidents like its fixed eBook pricing scandal, Apple is continuing to refuse to back down and settle and that is already biting them in the arse.
     
  23. macrumors regular

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    #23
    I wouldn't be surprised if they put malicious code in iPad processors.
     
  24. macrumors 603

    apolloa

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    #24
    And how are we supposed to know what you mods consider, overtly political then? Its an article involving the US government and Apple but speaking about politics in a news article is a breach of your rules? Maybe a suggestion is to move this article into the correct place on the website?
     
  25. macrumors 68030

    osofast240sx

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    #25
    Then the judges should follow the law. But to stay on topic 1 billion is a drop in the bucket for Samsung.
     

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