Apple Win Is 'Loss for Consumers': Samsung
NEW YORK (TheStreet) -- Apple's(:AAPL) victory over Samsung in a patent infringement case on Friday spells bad news for U.S. consumers, according to the Korean tech giant.
"Today's verdict should not be viewed as a win for Apple, but as a loss for the American consumer," explained Samsung, in a statement emailed to TheStreet late on Friday. "It will lead to fewer choices, less innovation, and potentially higher prices."
"It is unfortunate that patent law can be manipulated to give one company a monopoly over rectangles with rounded corners, or technology that is being improved every day by Samsung and other companies," added the phone maker. "Consumers have the right to choices, and they know what they are buying when they purchase Samsung products."
On Friday, after market close, a jury in San Jose, Calif., awarded Apple $1.05 billion in the closely-watched case, ruling that Samsung had "willfully" infringed a number of "valid" Apple iPhone patents.
The landmark case could have major implications for the technology landscape, bolstering Apple's confidence in the ongoing tech patent wars.
Samsung, however, vowed to continue its patent struggles with Apple. "This is not the final word in this case or in battles being waged in courts and tribunals around the world, some of which have already rejected many of Apple's claims," it said. "Samsung will continue to innovate and offer choices for the consumer."
Apple, of course, struck a much different tone in the aftermath of the verdict, setting off on a verbal victory lap around Cupertino.
"The lawsuits between Apple and Samsung were about much more than patents or money," explained an Apple spokeswoman, in a statement sent to The New York Times. "They were about values."
"At Apple, we value originality and innovation and pour our lives into making the best products on earth. We make these products to delight our customers, not for our competitors to flagrantly copy," she added. "We applaud the court for finding Samsung's behavior willful and for sending a loud and clear message that stealing isn't right."
Apple shares rose 1.77% to $674.95 following the court's ruling.
-- Written by James Rogers in New York.
>To submit a news tip, send an email to: firstname.lastname@example.org.