Samsung owes Apple a whole bunch of money now that a verdict has been reached in the epic smartphone patent infringement case between the two tech giants.
The verdict is being announced right now.
The jury has awarded Apple over $1 billion dollars. Or $1,051,856,000, The Verge reports.
Samsung was countersuing, but the jury says Apple didn't violate Samsungs patents. Apple owes Samsung zero in damages.
The jury found that Samsung infringed on Apple's products. The jury says, yes, all of the Samsung devices named in Apples claims infringed on Apple for one patent or another.
Not every product was found to have infringed on every patent that Apple named in its suit.
The jury also found that Samsung should have known about Apple's patents for at least 10 smartphones, but not for its Galaxy Tab tablets. That's important for figuring out how big the damages claim can be.
The jury did not find any of Apple's patents to be invalid.
The Verge reports that Apple's lawyer is smiling and the Samsung team is not happy right now.
Apple didn't win everything, but it still won a lot and won big.
On the other hand, $1 billion is almost a drop in the bucket for Apple right now. It has over $117 billion in cash and investments on its books right now, according to Yahoo Finance.
Apple filed a lawsuit against Samsung back in April, 2011, accusing the company of infringing on its patents. Apple accused Samsung of infringing on four design patents (two for the iPhone, one for iPad and one for iOS), as well as three utility patents. Apple is demanding $2.5 billion in damages from Samsung.
Samsung has since counter-sued, arguing that Apple has infringed on five of its patents, Samsung is demanding Apple pay a royalty rate of 2.4% on the "entire selling price" of its iOS devices for use of these patents. Apple argues that it should only have to pay one half of one penny per each mobile device it sells.
More to come.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
