Samsung Shares Drop After Patent Verdict
STEVE INSKEEP, HOST:
NPR's business news starts with Samsung's slip.
This is the first trading day since Apple's win in a huge American patent battle with competitor Samsung. This weekend, the South Korean company was ordered to pay more than $1 billion in damages after a California jury found it copied features of Apple's iPhone and iPad.
This morning, we're beginning to see the effects for Samsung. In trading overseas, the company share price fell more than 7 percent today, wiping out billions of dollars from Samsung's market value - at least for the moment.
Analysts say a final ruling in the case is due to come out in the next month, and the big question is whether that ruling will include a sales ban on big seller for Samsung, like the Galaxy S3 smartphone.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.