According to an insider on the Apple
Inc.(NASDAQ:AAPL)-Samsung patent infringement dispute, Samsung Electronics’
CEO, Samsung's Kwon Oh Hyun, will have a private telephonic meeting with his
peer in Apple, Tim Cook, to try and settle the dispute before jury
deliberations start. Based on the discussions between the two honchos, the
lawyers representing the companies will report the outcome and decide the next
course of action with U.S. District Judge Lucy Koh presiding in federal court
in San Jose, California.
The lawsuit was slapped by California-based Apple
in April 2011, when it accused Samsung of illegally copying patented designs
for its products. Samsung retaliated by countersuing Apple. According to
Bloomberg Industries, this is the 1st case to be presented in front
of a federal jury, in a battle for supremacy that spans four continents in a
smartphone market with a value of $219.1 billion.
It was Koh’s decision to let the CEO’s deliberate
the matter in private and reach a mutual solution and she is quite optimistic
that they will be able to settle the patent dispute among themselves. This is
the 2nd attempt for an out-of-court settlement, the 1st
being before the trial when the heads of the two companies had met but failed
to reach a consensus. Till date no progress in the simplifying of claims has
been reported and both sides are filing motions regarding exhibits and jury
instructions.
According to court testimony, Samsung has sought
about $399 million in royalties from Apple because the latter has allegedly
infringed its patents. Apple has reacted
by seeking $2.5 billion to $2.75 billion in damages. The judge has said that
deliberations might begin very soon. Spokespersons for both companies have
maintained a silence regarding all news doing the rounds.
Share of AAPL were up 2.63% to a
new high of $665.15.
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