Samsung shares dive amidst Galaxy S3 US ban fears
Shares in South Korean electronics giant Samsung have nosedived following a US jury’s decision to find in favour of Apple during a long-running intellectual property rights battle.
Nine jurors in California ruled that Samsung had infringed Apple patents relating to mobile devices, prompting Samsung shares fell 7%, their steepest decline since October 2008.
There arefears that a /news/2012/08/24/was-fast-jury-reaches-verdict-25-billion-apple-v-samsung-case ">colossal payout of $1bn
John Park, from Daishin Securities, said: “An adjustment in the next few days is unavoidable as the damage amount was much bigger than market expectations, and there are further uncertainties, such as the possibility of a sales ban.”