Seoul [South Korea], October 13 (ANI): Samsung Electronics, whose shares are approaching the symbolic 100,000-won milestone, has been ordered by a U.S. jury to pay 638 billion won (USD 445.5 million) for allegedly infringing wireless network patents owned by an American company, according to a report by Pulse, the English service of Maeil Business Newspaper Korea.
According to the report, on Friday (local time), a jury in the U.S. District Court for the Eastern District of Texas found Samsung liable for violating four patents held by Collision Communications Inc., a New Hampshire-based company specializing in wireless network efficiency technologies.
The jury ruled that Samsung must pay USD 445.5 million in damages.
“Collision Communications filed the lawsuit in 2023, claiming that Samsung’s Galaxy smartphones and notebook computers equipped with wireless communication functions infringed its patents. Collision Communications argued that the patents originated from research conducted jointly with BAE Systems, a U.K.-based defense and security company ranked among the world’s top five defense contractors along with Lockheed Martin and Boeing Defense,” the report said.
BAE Systems was not a party to the lawsuit.
In the U.S. judicial process, a jury verdict is part of the first trial phase, in which jurors determine factual findings and damages before the presiding judge confirms the ruling.
As per the report, Samsung Electronics can still appeal, meaning the final decision on both the infringement and damages could change.
“On the same day, Samsung Electronics’ stock closed at 94,400 won, up 6.07 per cent from the previous session, marking a new record high,” the release noted.
The rally reflected delayed investor optimism following the rise in the U.S. AI-related tech stocks during Korea’s Chuseok holiday. (ANI)
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