Samsung Agrees to Pay $548 Million to Apple (With a Twist)

The legal battle between Samsung and Apple is one of the most popular corporate lawsuits between two tech giants and is really one of its kind. The lawsuit that Apple initiated against Samsung for patent infringement ran almost 5 years, but it looks like the case has come to an end. After months and years of appeals and hearings, Samsung has finally agreed to reimburse $548 million to Apple.

samsung store

A joint case management statement has been filed by both the tech giants with the United States District Court (USDC) for the Northern District of California. In the statement, Samsung says that it has arranged the complete payment for Apple. It’s just a matter of some time now, as Samsung will complete the payment once Apple sends a detailed invoice to the South Korean company. $548 million will be paid to Apple by 14th December if the invoice reaches Korea by this weekend.

THE TWIST: An interesting thing to note is that Samsung, in the case management statement, indicates that it still has hope that the judgement might get overturned and it might get partial or full reimbursement of the money. In reply, Apple too “disputes Samsung’s asserted rights to reimbursement.”

So the settlement is yet to be made completely, therefore we await more interesting developments in this case.

SHARE