Trial Aftermath – Samsung Emergency Executive Meetings, Stock down 7%, Jury Members Comment

The aftermath of the verdict in the Apple vs. Samsung trial is beginning to become a reality. Following the official statements from both companies’ PR teams, as well as Apple CEO Tim Cook, new details as to the ramifications behind the judgement are being released.

The first piece of news comes from the Korea Times. The site reports that Samsung Executives held an emergency meeting right after the trial loss regarding the impact on the company. Even more alarming is a comment that came from a Samsung Senior Executive as he walked into the company’s HQ: “It’s absolutely the worst scenario for us”. The Korea Times also reports that Samsung executives are set to formally respond to media requests and offer a more official response in the coming days.

The loss not only created panic among Samsung Executives, but it’s shareholders as well. CNET reports that Samsung shares are down approximately 7% in the South Korean market; with this drop being reportedly Samsung’s biggest loss in the market since October 2008. Samsung has released details of an internal memo sent to employees following Friday’s verdict. Though the final decision hit the Korean company hard — to the tune of more than $1 Billion — Samsung states that they are, and will continue to be, more dedicated to innovation than its US rival.

The memo takes a shot at Apple, claiming that the company’s “primary means to competition has been the outright abuse of patent law, not the pursuit of innovation.” Samsung says that it never meant to take Apple to court but it had little choice to counter-sue after Apple filed an initial suit. The two smartphone giants have been much criticized by consumers for resorting to the courts to try to block of sales of each other’s devices, but Samsung asserts that it is Apple that is guilty of this approach. It says remains confident that consumers will see it as the one that “prioritize[s] innovation over litigation” and it says that it will “prove this beyond doubt”. The memo further echoes statements from the Samsung legal team that it will appeal last week’s decision: “We will continue to do our utmost until our arguments have been accepted,” it reads.

Notably, Reuters had the opportunity to interview the foreman for the Jury, who shared some additional insight into the decisions made during deliberation:

In an interview on Saturday, jury foreman Velvin Hogan, 67, said Apple’s arguments about the need to protect innovation were persuasive in the jury room. He also said video testimony from senior Samsung executives made it “absolutely” clear to them that the infringement was purposeful.

“We didn’t want to give carte blanche to a company, by any name, to infringe someone else’s intellectual property,” Hogan told Reuters a day after the verdict.

However, Hogan said Apple’s damages demand of up to $2.75 billion were “extraordinarily high,” partly because it was unclear whether Apple had enough component supply to sell more phones even if it had wanted to.

Additional jury testimonies stated that Apple’s case ending up being more convincing and that Samsung dodged questions which ultimately didn’t help their cause. With the appeals process beginning, additional injuncture cases on the horizon, and Apple revving up to attack Samsung even more, the future of the Korean company seems to be filled with turmoil. DroidDog will continue to keep you updated as new information and details are released.

Samsung Tomorrow   Korea Times    TheNextWeb    Reuters    CNET

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