Samsung market value plummets after $1bn loss to Apple

August 28th, 2012, 13:41 Posted By: wraggster

South Korean company suffers $12bn loss in market value as court's decision sends shockwaves across the tech community.
While there is talk that Samsung's patent case loss to Apple could ultimately be beneficial to the company, what matters right now is the firm's plummeting market value.
As shareholders reacted to the $1bn fine imposed by a US court, Samsung - which isn't traded on the US stock market - dropped 7.5 per cent in Korean trading, a loss of more than $12bn in market value.
Alternately, shares of Apple have leapt by more than two per cent, adding nearly $15 billion to the market capitalisation of the world’s most valuable company.
Samsung hopes its efforts to innovate will retain the loyalty of consumers. An internal memo issued by Samsung management after the verdict, said: "History has shown there has yet to be a company that has won the hearts and minds of consumers and achieved continuous growth when its primary means to competition has been the outright abuse of patent law, not the pursuit of innovation.
“We trust that the consumers and the market will side with those who prioritise innovation over litigation, and we will prove this beyond doubt."

http://www.mobile-ent.biz/news/read/...o-apple/019155

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