Samsung takes a $12 billion value hit after Apple patent lawsuit verdict

By Gadjo Cardenas Sevilla

Losing  the initial patent infringement case against Apple is going to cost Samsung. More than the $1 billion it has to pay Apple for damages, it is also taking a hit where it hurts, in its value. The Korean consumer electronics and components giant saw 7.5 of its shares slump early Monday resulting in the loss of $12 billion of its value. Still reeling from last week's jury verdict at the San Jose federal court, that found that Samsung willfully copied Apple's patents and ordered the latter to pay over $1 billion in damages, Samsung now faces some financial consequences for that ruling which it said it will appeal.

According to reports, Samsung's Shares slipped as much as eigth per cent, its biggest daily percentage drop in nearly four years, to 1.173 million won (about $1,000) each, before closing at 1.180 million won.

Losing a patent infringement case in the $250 billion mobile segment is a high stakes situation that doesn't just a affect a company and its products but also reflects on its reputation which could sway investors and affect the value. This is definitely something to consider going forward, specially since there are a variety of mobile patent lawsuits coming in the near future. We will follow the story closely for developments.