Samsung Loses Over $1 Billion in Market Value After Veto

[onehandle]

Source: Wall Street Journal

The South Korean government Monday expressed concern over the Obama administration’s decision to veto an import ban on some Apple Inc. products in the U.S., saying that the decision may negatively impact Samsung Electronics Co.'s patent rights.

The Ministry of Trade, Industry & Energy said in a brief statement that it will closely watch the U.S. International Trade Commission’s decision Friday, when it is slated to decide whether to ban certain Samsung Galaxy mobile products from the U.S. after Apple filed a complaint alleging patent violation.

“We hope to see a fair and reasonable decision on the matter,” it said.

Over the weekend, the U.S. Trade Representative Michael Froman made the decision to veto a ban on some Apple devices, citing concerns about patent holders gaining “undue leverage” as well as potential harm to consumers and competitive conditions in the U.S. economy.

Read more: http://blogs.wsj.com/digits/2013/08/05/us-veto-on-apple-ban-sparks-concern-in-seoul

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Oh, darn.

[frylock]

1. citing concerns about patent holders gaining “undue leverage”

fucking laughable. what's his take on apple's patent of the "rectangle?"

[dipsydoodle]

4. Don't forget the rounded corners.

[cprise]

18. Indeed. This is a hugely corrupt decision.

Meanwhile, iPhone sales are plummeting in China...

[ceonupe]

2. What is South Korea gonna do?

Ask the north for help?

We run South Korea and have for the last 50 +years or so. And until we nolonger need them they will do what ever we want for the most part.

Samsung and apple have an interesting relationship and this will end in a cross licencing deal.

[onehandle]

5. Resulting in Samsung paying Apple billions more than they owe them now.

Apple holds the lions share of the technology, that Samsung is 'borrowing' from Google, that Google ripped off from Apple.

Google warned Samsung not to 'make it so obvious.'

Google does not want a deal between Apple and Samsung.

[ceonupe]

8. Yep

And they don't want Samsung to fork android. U see Samsung has the lions share of android phones and if the cross lic with apple their forked version that leaves google with it Motorola purchase a decade or more behind.

Remember apple and Samsung licensed the moto patens long ago.

[cstanleytech]

14. What did google ripoff exactly?

Isnt android an entirely different OS than the apple OS?

[mrdmk]

15. Nope, they are both versions of Linux

[cstanleytech]

16. I thought that the iOS was

related to OS X not linux?

[onehandle]

17. The UI. nt

[cstanleytech]

19. So kinda like Apple "borrowing" from Xerox PARC then? nt

[onehandle]

20. Apple paid Xerox in a stock deal. Eric Schmidt stole the iOS UI as an Apple board member.

Google begged Samsung to make the theft less obvious.

There will be a reckoning.

[cstanleytech]

21. Odd, I dont think I would get confused over which UI is which unless of course

you involve third party launches like Go Launcher for android but if you say they stole it I will take your word for it.
But moving on from the UI what should be done about Apple themselves for their actions?
The International Trade Commission did order that Apple be banned from selling some older iPhones and iPads because they say Apple violated Samsung Electronics patents.
So should Apple be given a pat on the back for their theft and Samsung bent over the barrel and used for theirs?

Edit: And for the record I dont use any Apple phones nor do I use any android phones, I use a cheap walmart one from verizon that costs me 50 a month and its as basic a phone as you can get lol

[TM99]

22. They didn't steal it.

Apple fans love to parrot that lie. Do some independent research yourself, and you will see where the prior art and prior designs came from.

The iPhone may be hugely popular and very well marketed, but all of the iProducts are built on the technology that others, including Samsung, pioneered long before Jobs decided he wanted a big piece of that pie.

This is a horrible precedent but not wholly unexpected. If Apple tanks, it will significantly damage the high the stock market is currently running. We can't have that, so Obama did what he needed to do.

It will be bad for consumers in the long run but hey most of us 99% who own iPhones or Android devices aren't making a killing in the stock market like the big boys are anyway.

[dipsydoodle]

3. They'll bounce back

That's just a book keeping entry.

[JustAnotherGen]

6. Much like Softbank

Samsung does long term thinking. . . like 10 years down the road thinking. They'll be fine. We are planning all Samsung appliances for our home this fall. Most people I've spoken to that have purchased or renovated this year (we have really leaned on references and word of mouth and user experience) all super gung ho on their samsung appliances.

The key thing - Apples target market isn't really going to get moist over a slide in range and double oven the way I am . . . so I don't see them ever trying to go after affluent 40 year old women the way Samsung does. That's Samsung's market and bread and butter.

[Crow73]

7. Keep in mind

Samsung isn't some great company.

[Dreamer Tatum]

9. Why aren't you posting about the government wanting oversight of iTunes?

(I already know the answer. I just want to see what you'd say, unless your contract with AAPL forbids you from doing anything but shilling.)

[meegbear]

10. A multibillion dollar corporation is fucking over a multibillion dollar corporation ...

HOORAY FOR US!!

[Javaman]

23. when two elephants fight...

only the grass suffers.

Kenyan proverb.

[eilen]

11. Nice way to follow rule of law there Barack

Now explain why your Justice Dept keeps ordering raids on medical marijuana growers.

[SleeplessinSoCal]

12. I believe the Sherman Anti-Trust Act is the tool used.

Though it took Teddy Roosevelt to actually implement it for the first time, this is a useful tool to ward off monopolies.

[Safetykitten]

24. The fastest Obama action since...well, he cashed the Apple checks for his campaign.