Samsung to Pay Apple $548 Million

settlement

CBJ — Samsung is finally ready to pay almost $548 million to rival Apple as part of an infringement settlement regarding smartphone patents and designs relating to Apple’s iPhone.

The South Korean tech company had fought the decision for a long time, but has finally relented and has decided it will pay up.

Samsung was originally ordered to pay more than $930 million as part of the initial judgment but had the amount reduced in an appeals court.

Another trial over remaining damages relating to some of Samsung’s infringing products in the case is set to go ahead next spring.

@CanBizJournal

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