Samsung’s stock took a major hit this week after the company lost a $1.05 billion judgment in its copyright infringement case with Apple Computer. The company is also threatened with the possibility that Apple is going to push the judge to get several Samsung products off the US market, especially those that relate to its popular Galaxy series.
Shares in Samsung had their biggest one-day drop in nearly four years, falling a full 7 percent after the jury released its verdict. Samsung says that it plans to appeal the verdict, but analysts are afraid that the company may see long-term damage from the outcome of the trial.
“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,” said John Park, from Daishin Securities.
September 20 is the date on which the judge will rule on the requested injunction against selling Samsung products in the United States. If he rules in Apple’s favor, it could be financially devastating for Samsung.
The US is not the only battle ground between the two companies. They are engaged in legal wrangling in several countries around the globe.