Samsung Execs Meet About Apple Victory
Almost every comment about the Apple (NASDAQ: AAPL) patent victory over Samsung in U.S. District Court includes the observation that Samsung did not expect such sharp blow or the damages set by the jury at just over $1 billion. The South Korean firm may have to redesign a number of its models as fast as possible. Some models may be blocked from sale in America. Samsung is, at least, so large that it can fall back on its balance sheet and the sales of its other divisions.
The deep trouble the verdict has caused was driven home by press reports from South Korea that Samsung senior management held meetings over the weekend to set strategy to keep the firm's smartphone division from a collapse in sales.
The Korea Times reports:
Samsung executives were still reeling in shock Sunday, but provided no clear hint on the company's next move in the showdown with its industry archrival. It's widely expected that Samsung will appeal, but the outlook for success in the appeal now looks rather murky.
"It's absolutely the worst scenario for us,'' a senior Samsung executive said as he rushed into the company's compound in southern Seoul.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Law, Wireless Tagged: AAPL