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HomeLatest NewsTech ComparisonsApple Claims 2.525 billion for Damages against Samsung; Shares Go Up

Apple Claims 2.525 billion for Damages against Samsung; Shares Go Up

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The people at Apple must be sitting snug today. The California-based Apple Inc has claimed a staggering amount of 2.525 billion for the damages in its battle against Samsung electronics over patent infringement of its iPhone and iPad technology.

On Tuesday, Apple filed a partially redacted filling according to which Samsung owes “substantial monetary damages” because the Korean company illegally “chose to compete by copying Apple”.

In statement reported by Reuters Apple has said, “This allowed Samsung to overtake as the world’s largest maker of smartphones, and reap ‘billions of dollars in profits’ while costing Apple $500 million of profit.” It was further reported that damages, including reasonable royalty damages, reach a combined total of $2.525 billion.

Apple maintained that it also plans to seek a permanent sanction to stop future breach.

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Only 13 minutes later, Samsung defied Apple’s allegations, accusing the Cupertino, California-based company of trying “to stifle legitimate competition and limit consumer choice to maintain its historically exorbitant profits”.

Samsung told Reuters that Apple, in fact, should pay for the use of Samsung’s patented technology, “without which Apple could not have become a successful participant in the mobile telecommunications industry”.

The consumer electronic giants are scheduled to sit for a jury trial on July 30 before U.S. District Judge Lucy Koh.

The clashes have aroused from the legal war that Apple waged against Samsung over the alleged pilfering of technology used in smartphones and tablets, including those powered by Google Inc’s Android, which is part of Samsung’s most popular devices.

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People who are witness to the legal battle told the media that Apple chief executive Tim Cook and top Samsung executives participated in court-supervised mediation last week to try to calm the case but a resolution appeared to be unlikely. The companies also disagreed on the value of the disputed patents, one of the people said.

In morning trading, Apple shares elevated to $4.22 to $608.05 on the Nasdaq. The case in Apple Inc v. Samsung Electronics Co et al, U.S. District, Northern District of California, No. 11-01846.

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