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August 25, 2012

Samsung accused of Copying iPhone, to pay $1.05billion as damages to Apple

Apple has the last laugh  against its fight with Samsung as an  US court has ordered Samsung - which sold around 50 million phones in April-June, almost twice the number of iPhones - to pay $1.05 billion damages, after ruling that the South Korean firm infringed on some Apple patents.
The verdict was a big win for Apple, and it marks the end of   one of the biggest corporate  patent wars among tech giants Apple and Samsung. However  the damages are less than half the $2.5 billion compensation it sought - although that could yet be increased by the judge - and are just 1.5 percent of annual revenues from Samsung's telecoms business.
This defeat will  dent Samsung Electronics Co's $21 billion cash-pile.Samsung's crown product jewels,  Galaxy Range of smartphones and  the tablet business  have been seen  as the  powerhouse behind Samsung's rapid  growth, which has been earning around 70% of total profit. The group had net profit of $4.5 billion in April-June.2012
Also, Apple's demands for Samsung to pay it a royalty on its phone sales could hit rival phones using Google's Android operating system more than it hits Samsung. If anything, the blaze of publicity from the high-profile, high-stakes US litigation has made Samsung's brand more visible and recognised.