Apple triumphs over Samsung, awarded over $1 billion damages

Fri Aug 24, 2012 7:37pm EDT

(Reuters) - Apple Inc. scored a sweeping legal victory over Samsung on Friday as a U.S. jury found the Korean company had copied critical features of the hugely popular iPhone and iPad and awarded the U.S. company $1.051 billion in damages.

The verdict -- which came much sooner than expected -- could lead to an outright ban on sales of key Samsung products and will likely solidify Apple's dominance of the exploding mobile computing market.

A number of companies that sell smartphones based on Google's Android operating system may now face further legal challenges from Apple, a company that is already among the largest and most profitable in business history.

Shares in Apple, which just this week became the biggest company by market value in history, climbed almost 2 percent to a record high of $675 in after-hours trade.

Brian Love, a Santa Clara law school professor, described it as a crushing victory for Apple: "This is the best-case scenario Apple could have hoped for."



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Needless to say, Samsung will appeal. But in light of how AAPL has reacted in after-hours trading, Apple running the table was pretty much unexpected by the market.