People Of WFIT
Mon July 30, 2012
Apple, Samsung Face Off In Court Over Alleged Patent Infringements
Fortune calls it "the patent trial of the century." And based on money alone, it might as well be: Apple and Samsung are accusing each other of infringement. Samsung wants higher royalties on some technology and Apple is seeking $2.5 billion in damages.
A jury will decide which, if any, company is right. With jury selection, Reuters reports the trial begins today in San Jose, Calif.
"The fight began last year when Apple sued Samsung in a San Jose, California federal court, accusing the South Korean company of slavishly copying the iPhone and iPad. Samsung countersued.
"The stakes are high, with Samsung facing potential U.S. sales bans of its Galaxy smartphones and tablet computers, and Apple in a pivotal test of its worldwide patent litigation strategy.
"Apple will try to use Samsung documents to show its rival knowingly violated the iPhone maker's intellectual property rights, while Samsung argues Apple is trying to stifle competition to maintain 'exorbitant' profit, according to court filings."
All Things D has a great primer, which answers a very important question: Why should you care?
Essentially, says All Things D, it could "reshape," literally and figuratively, the smartphone you have in your hands.
Forbes also points out that this is a battle of titans, the two companies make up 73 percent of the mobile industry's revenue and "over 100% of industry EBIT (earnings before interest and taxes)."