SHARES in electronic gadget maker Apple hit record highs yesterday as markets got their first chance to react to its patent court case win over South Korean rival Samsung on Friday.
A federal jury in Silicon Valley ruled that Samsung had copied some of Apple’s iPhone and iPad technology in its mobile phones and tablet computers and awarded the US firm $1 billion (£630 million) in damages.
While Apple soared, Samsung’s shares headed in the opposite direction, closing down 7.5 per cent yesterday, wiping £7bn off the firm’s market value.
Shares in HTC – which, like Samsung, makes smartphones that run Google’s Android operating system – fell 1.9 per cent on the Taiwanese stock market.
Nokia, the Finnish mobile phone maker that has teamed up with software giant Microsoft to try to revive its ailing fortunes, received a boost from the court decision, with its shares rising by as much as 10 per cent. Nomura analysts said: “The real winner hear will be Microsoft and the Windows Phone eco-system. As Android and Apple tear each other apart, Microsoft has been waiting in the wings and is in a very good position to move in and entice users to switch from Android.”
Shares in Blackberry-maker RIM also ticked higher.
British traders will get their first chance to react this morning, with City eyes resting on Samsung components suppliers ARM Holdings and Edinburgh-based Wolfson Microelectronics.
Canaccord Genuity analyst Michael Walkley warned: “This verdict could lead to Samsung delaying near-term product launches as it attempts to design around Apple’s patents.”
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Weather for Edinburgh
Friday 24 May 2013
Temperature: 3 C to 12 C
Wind Speed: 18 mph
Wind direction: North east
Temperature: 7 C to 17 C
Wind Speed: 13 mph
Wind direction: West