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Mon August 27, 2012
Samsung Shares Drop After Patent Verdict
Originally published on Mon August 27, 2012 4:35 am
STEVE INSKEEP, HOST:
NPR's business news starts with Samsung's slip.
This is the first trading day since Apple's win in a huge American patent battle with competitor Samsung. This weekend, the South Korean company was ordered to pay more than $1 billion in damages after a California jury found it copied features of Apple's iPhone and iPad.
This morning, we're beginning to see the effects for Samsung. In trading overseas, the company share price fell more than 7 percent today, wiping out billions of dollars from Samsung's market value - at least for the moment.
Analysts say a final ruling in the case is due to come out in the next month, and the big question is whether that ruling will include a sales ban on big seller for Samsung, like the Galaxy S3 smartphone. Transcript provided by NPR, Copyright NPR.