Shares of Apple Inc.(NASDAQ:AAPL) gapped up this morning and rose 1.85% to $595.87, on the way to hit $600 mark after falling below this level in the past week on dissapointing earnings.
The high-profile and high-stakes court battle between Apple Inc. (AAPL) and Samsung Electronics Co., over patent infringements, is set to kick off later today with selection of the jury for the trials.
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Samsung, which overtook Apple as the world's largest maker of smartphones earlier this year, has been accused by the iPhones and iPads maker of copying the designs of its mobile phones and tablets.
If Apple wins the battle, Samsung faces a potential ban on the sale of its Galaxy smartphones in the U.S. It was the new generation Galaxy phones which have propelled the Korean consumer electronics firm into the top league overtaking both Nokia and Apple in the fast-growing smartphone market.
While Apple will be trying to prove that Samsung wilfully violated copyright regulations, Samsung will counter that Apple's tactics are intended to stifle competition in the segment.
The trial is expected to drag out over four weeks with the 10-member jury expected to hear and consider documentary evidence from all sides, before arriving at a decision that may go either way.
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Observers who have been watching the developments since last year, when Apple made the first move when it sued Samsung, feel that the U.S. company has an edge since the jurors will be from the Silicon Valley.
The jurors are xpected to be impartial and decide the case on its merits but the fact that Apple is one of the largest employers in that region could probably weigh in its favour.
Shares of Apple were up nearly 2 percent in early trades on the Nasdaq while that of Samsung Electronics (005930.KS) closed up 3.4 percent earlier on the Korea Stock Exchange.