CEOs of Apple and Samsung will meet to discuss settling patent war
In 2012, Apple won a S1.05 billion jury verdict against Samsung which was reduced when Judge Lucy Koh vacated $450 million of the verdict after finding inconsistencies with how the jury awarded damages on some devices. In the retrial, Apple was awarded $290 million. A new trial is scheduled for March, featuring more recent devices offered by Samsung including the flagship Samsung Galaxy S4.
While Apple has paid its legal team $60 million just to handle its litigation against Samsung, thus far juries have awarded the Cupertino based firm $930 million dollars. Samsung has not yet paid one cent as various appeals are in motion.
Back in 2012, Cook met with then Samsung CEO Choi Gee-Sung to try to hammer out an agreement before that year's epic patent trial. But Samsung did not want to pay Apple's licensing fees. Hopefully, for the sake of the industry, both sides can hammer out an agreement this time.
2. Reluctant_Human (Posts: 867; Member since: 28 Jun 2012)
They're going to get to together and laugh at about how much money they're making as CEOs while reading troll comments between Apple and Samsung fans.
12. darkkjedii (Posts: 13799; Member since: 05 Feb 2011)
Wowwww! Simply put, that's the post of the year. Can't be topped...
15. Extradite (banned) (Posts: 316; Member since: 30 Dec 2013)
So both company have drained almost 90million on paying baristers, just for infringing on patents.
Everyone takes idears from othets, and implement it to progress it to look and do well.
16. JGuinan007 (Posts: 647; Member since: 19 May 2011)
I think they are starting to see how much money they are each losing on legal fees paying lawyers that they could be using for development, adding to their bottom line, or giving themselves bonuses.
3. MacWiNux (Posts: 80; Member since: 07 Jan 2014)
the never ending patent wars Copy and Paste....
4. Droid_X_Doug (Posts: 5975; Member since: 22 Dec 2010)
I doubt Sammy has much motivation to settle, as they haven't had any result from the appeal of the Apple v. Samsung trial verdict. As far as their attorneys are concerned, they have nothing to lose by waiting for a ruling on the appeal. Apple is going to want a license fee in the multiple Billions of U.S. $, so they are too far apart and there is no perception of existential risk on Sammy's part.
This is just Kabuki to show that each side is taking the trial seriously (there is a requirement for both sides CEOs to meet before trial).
18. sgodsell (Posts: 1659; Member since: 16 Mar 2013)
Apple needs Samsung, but Samsung does not need Apple. Apple currently still buys a number of components off of Samsung. In fact almost all OEMS buy some components off of Samsung. I guess that is why Apple is investing 10 billion on manufacturing.
5. roscuthiii (Posts: 1887; Member since: 18 Jul 2010)
I envision two petulant children held after class and forced to spend time together by the teacher, all the while flipping each other off when the teacher isn't looking.
Also, I kinda see this as two crotchety old geezers in suits high-five'n and dancing a jig with huge smiles on their faces as they make it rain large denomination bills around each other. All the while flipping everybody else off.
Wonder which it is...
10. Taters (Posts: 3673; Member since: 28 Jan 2013)
Definitely not the first one since the only child here is Apple. Samsung is doing nothing but defending themselves from a bully trying to take their lunch money. I mean I am surprised people are not bright enough to see this. Samsung has no problem paying Ericsson, Nokia, Microsoft etc for the use of their patents. They would pay Apple too if they actually had something that wasn't prior art.
I hope Samsung stands their ground on this unlike HTC that just gave in and empowered them. Google and MS should do more to or at least vocalize that Apple is nothing but a bully rather then just sit there and watch.
6. itsdeepak4u2000 (Posts: 3237; Member since: 03 Nov 2012)
Is there any company who can win fair play award? Now-a-days these patents wars are flooding the news channels. :(
8. Droid_X_Doug (Posts: 5975; Member since: 22 Dec 2010)
Apple has its guy at 1600 Pennsylvania Avenue helping where he can. Nothing like pressing a thumb on the scales of justice.
11. darkkjedii (Posts: 13799; Member since: 05 Feb 2011)
There must be something going on from both sides, to doing something like this
14. DIYEyal (Posts: 5; Member since: 22 Oct 2013)
I doubt they will get to a real settlement.. They will just be like a divorcing husband and wife arguing who should get the kids
17. InspectorGadget80 (Posts: 6876; Member since: 26 Mar 2011)
Apple need to stop this B.S. Lawsuit against Samsung/Android. This shyt is getting old. But glad they are talking.