Samsung owes Apple up to US$2.75B in damages, witness tells trial |
| Financial Post - Aug 13, 2012 |
Samsung Electronics Co. would owe Apple Inc. US$2.5-billion to US$2.75-billion in damages for infringing the iPhone maker’s intellectual property, according to a witness in a dispute between the companies.
Terry Musika, a certified public accountant testifying today on Apple’s behalf in federal court in San Jose, California, said his estimate is based on Samsung’s sales of 22.7 million smartphones and tablet computers and revenue of US$8.16-billion. The jury has yet to decide whether the patents and trademarks were infringed, which the expert assumed when making his estimate.
Apple, based in Cupertino, California, sued Suwon, South Korea-based Samsung in April 2011, accusing it of copying patented designs. The dispute is the first to go before a federal jury in a battle being waged on four continents for dominance in a smartphone market valued by Bloomberg Industries at US$219.1-billion. The trial is in its third week.
The damages estimate is large “because we’re dealing with a large number of sales,” Musika said, citing sales data since the introduction of allegedly infringing Samsung Galaxy products in 2010.
Read Full Article from Financial Post
- Posted: 2012-08-13 15:12:52
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