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In a huge sigh of relief for Indian boxer Vijender Singh, National Anti-Doping Agency (NADA) announced on Tuesday that the boxer has tested negative in the drug test.

Business News
 

Samsung shares plunge after verdict on infringing Apple patents

Monday - Aug 27, 2012, 03:44pm (GMT+5.5)
[+] Text [-]

Samsung shares plunge after verdict on infringing Apple patents London - Shares in Korean electronics manufacturer Samsung have tumbled after the company was ordered to pay Apple more than one billion dollars for infringing six of the US  tech giant's patents.

The company's shares fell seven percent in Seoul trading, their biggest fall in a single day, in almost four years,

Samsung was ordered to pay 1.05 billion dollars in damages to Apple, in one of the most significant rulings in a global intellectual property battle.

According to the BBC, analysts said investors were worried that the ruling could affect Samsung's revenues.

"An adjustment in the next few days is unavoidable as the damage amount was much bigger than market expectations, and there are further uncertainties, such as the possibility of a sales

ban," the report quoted John Park, from Daishin Securities, as saying.

The nine-member jury at district court in San Jose found that Samsung products violated Apple 's patents related to screen bounceback and zooming.

They said the Korean company also infringed the design and graphical interface of Apple's iPhone.





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