Apple Inc.(NASDAQ:AAPL)’s victory against electronics giant Samsung, has catapulted its stock just after the verdict was declared in favor of Apple. Monday was the first day of trading after the landmark ruling and the shares of Apple broke its own records of its earlier best at $668.87 to reach $675.68 at the end of trading, by shooting up 1.88%. However, shares of AAPL fell 0.13% to $674.80 on Tuesday.
Thanks to the rally in stock, the market value of Apple went up to $633.39 billion, which is more than a 12 billion climb! Samsung’s shares, as expected, fell by 7.5% on Monday.
The verdict of Samsung’s violation of six out of seven patent claims by Apple was deliberated by a jury in a
court, which also led to Samsung being ordered to pay $1.05 billion in damages.
Apple has refused to let matters rest by filing a claim to stop sales of 8
handsets that infringes the patents in question, requesting for an injunction
till the final verdict is given. Samsung has appealed on Sunday to void the
prior preliminary injunction against the Galaxy Tab 10.1 that does not
breach Apple’s D’889 iPad design patent. In lieu of a damages hearing, Samsung
has also appealed to the court to keep Apple’s $2.6 million bond.
This victory might bring about tremendous changes in the smartphone market, which was being dominated by Samsung all this while, because they may have to scrap exisiting hardware/software and go in for a complete redesign. Apple’s latest version of iPhone will get immense publicity thanks to this win and rumors are circulating that the company might go after HTC, LG etc.
Nokia is one third party corporation that might be helped by Apple’s win because it is coming up with an upgraded version of its anchor product Lumia by collaborating with software giant Microsoft. If the injunction against Samsung is actually put into place, various carriers like Verizon Communications, AT&T, and Sprint Nextel Corporation will suffer and their profits will come down. Qualcomm’s position looks slightly better because both Apple and Samsung use its components. Due to the win, other names in the industry might need to redesign their software in present and soon to be launched products.