Samsung says to book patent provisions after U.S. ruling

SEOUL Thu Oct 25, 2012 10:49pm EDT

People walk at a Samsung Electronics store in the Gangnam area in Seoul October 22, 2012. REUTERS/Kim Hong-Ji

People walk at a Samsung Electronics store in the Gangnam area in Seoul October 22, 2012.

Credit: Reuters/Kim Hong-Ji

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SEOUL (Reuters) - Samsung Electronics Co Ltd will book patent-related provisions once a U.S. court makes a ruling on its over $1 billion litigation with Apple Inc, it said on Friday.

"The amount of provisioning will be fixed according to U.S. court ruling, and the costs will be set aside this quarter only if there's a ruling within the current quarter," Robert Yi, head of Samsung investor relations, told analysts.

A U.S. federal jury said in late August that Samsung had copied key features of Apple's iPhone, and awarded Apple $1.05 billion in damages.

Apple has since asked for additional damages of $707 million, and the California court is set to rule on the case in early December.

(Reporting by Miyoung Kim; Editing by Daniel Magnowski)

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Comments (1)
AZWarrior wrote:
We should just put both CEOs in a windowless room together and not allow them to eat, sit, or use a toilet until they cross license all disputed patents. Enough of this childish insanity.

Oct 25, 2012 12:46am EDT  --  Report as abuse
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