It is now heard that the Korean giant's stock experiences greatest one-day decline in four years after a jury in a closely-watched patent infrigement trial awarded Apple more than $1 billion! Shares of Samsung Electronics registered their greatest one-day drop in nearly 5 years in their first day of trading after Apple's patent award.
Well, I had seen this coming already, lol! As Tim Cook said yesterday, the infringement had gone deeper than they knew. It does remind me of a saying, which goes like this "No pain, no gain", and I think it applies here very well!
Shares of Samsung were off 6.98% in early morning trading, down 89000 south Korean Wan to 1.19 SKW. It was the company's largest decline since October 2008.The share loss comes three days after a jury in San Jose, Ca. delivered a lopsided victory to Apple, awarding the iPhone maker $1.05 billion in damages. A verdict one senior samsung executive called "absolutely the worst scenario for us".
US injunctions could be especially painful for Samsung. Although they manufacture an array of consumer devices like Tv's, Blu-ray players, and even Kitchen appliances, smartphone sales are its bread winner. Well, lets see where it gets to now! Follow this post by following this blog!
