Apple Inc. and Samsung Electronics Co. have partially settled their patent war. The two companies have reached an agreement over the patents of smartphones and tablets in several countries worldwide. However, they are still in the middle of a court battle over allegations of copying in the U.S.
Samsung has been accused by Apple to have copied the designs of its flagship iPhone. On the other hand, Samsung has claimed that Apple Inc. has been using pieces of its wireless-transmission technology. The two companies have constantly been pushed by judges to reach an agreement instead of choosing to play out their dispute in court.
This is not the first time when the two smartphone makers have crossed swords. The hostility between them was started by Apple Inc., which first sued Samsung for copying some of its iPhones features on the territory of the U.S. in 2011.
The two companies made a joint statement, which was cited by the Wall Street Journal: “Apple and Samsung have agreed to drop all litigation between the two companies outside the US. This agreement does not involve any licensing arrangements, and the companies are continuing to pursue the existing cases in U.S. courts.”
According to the joint statement of Apple and Samsung, the lawsuits between them are to be dropped in Japan, South Korea, the U.K., Italy, Germany, France, Netherlands and Australia.
Currently, Apple and Samsung are the two largest smartphone makers in the world. The competitiveness on the smartphone market has rapidly become fiercer than ever, which has partially led to the patent war between the companies.
Apple Inc. was 0.49% down to close at $95.12 per share yesterday. The shares of the company have gained 41.83% in the past twelve months, giving it a market valuation of $569.57 billion. According to the information published on CNN Money, the 45 analysts offering 12-month price forecasts for Apple Inc. have a median target of $106.00, with a high estimate of $135.00 and a low estimate of $51.43. The median estimate represents a +11.44% increase from the last price of $95.12.
Samsung Electronics Co. Ltd was 1.22% down to close at 1,316,000 South Korean won per share today. Samsungs shares have gained 4.73% in the past twelve months, valuing the company at 217.36 trillion South Korean won (approximately $210 billion). According to the information published by the Financial Times, the 41 analysts offering 12-month price targets for Samsung Electronics Co. Ltd have a median target of 1,650,000, with a high estimate of 2,200,000 and a low estimate of 1,150,000. The median estimate represents a 25.38% increase from the last price of 1,316,000.
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