Samsung agrees to pay $548 million in settlement to Apple
The long drawn out battle between Apple and Samsung is drawing to closure with the Korean giant agreeing to pay Apple $548 million in court-awarded damages.
Apple and Samsung had been sparring over alleged infringement of each other’s patents for years. The battle lasted for over five years, with courts once awarding Apple more than $1 billion in damages. However, after an appeal from Samsung and a revaluation, the damages were brought down to $548 million. The judgment that was delivered last year in the settlement of this patent war directed Samsung to pay Apple the aforementioned amount by December 14th. With Samsung formally agreeing to pay Apple, this battle is drawing to its closure.
However, Samsung is said to be planning to reserve its right for a refund in case courts reverse the judgment. That seems like a distant possibility, and this is a just-in-case plan more than anything else.
