Shares of Apple Inc.(NASDAQ:AAPL) rose 0.65% to $610.18 in the pre-market session. The company is all set to report its earnings next week.
Apple Inc. lost the long led battle of patents against its most powerful competitor Samsung Electronics Co. According to the verdict by judge Colin Birss, on 9th July in London, Apple Inc. has to issue a declaration on its U.K. website in parallel to the British newspapers stating that the registered designs for its hot selling iPads have not been copied by its rival. The news should be flashed for a minimum duration of 6 months on Apple Inc.’s website. This judgment would serve as an attempt on part of the company to correct the tampered impression of the South Korea-based company of infringing on Apple Inc.’s patents.
Can AAPL Hit $1000 Mark by the end of this year? Get our Shocking report for FREE HERE
Though Briss did not permit Samsung Electronics Co.’s demands of granting an injunction blocking Apple, it does a major damage for Apple Inc. who is involved in global battle for patent lawsuits with Google Inc., HTC Corp. (2498) and Samsung.
In an endeavour to compete with its rivals for the dominance of the smartphone and tablet computer markets, Apple Inc. has been long engaged in global patents lawsuits. The ruling of the court means Apple will have to publish “an advertisement” in favour of Samsung Electronics Co. for as per a lawyer for Cupertino, California-based Apple, told the court. “No company likes to refer to a rival on its website.”
Get Free Trend Analysis On AAPL
The verdict might cause a great commercial harm to Apple Inc. which is engaged in similar battles with Samsung in Germany, the Netherlands and the U.S. The company is also supposed to pay for the notices in the Financial Times, the Daily Mail, Guardian Mobile magazine, and T3, according to a draft copy of the order provided by Samsung’s lawyers.
However, according to the statement by the lawyers of Apple Inc., the company would appeal the July 9 decision. The company is even granted permission by Judge Birss to take its case to the court of appeal. The case is Samsung Electronics (UK) Limited & Anr v. Apple Inc., High Court of Justice, Chancery Division, HC11C03050.