Samsung's Apple damages equivalent to 16 days' profit

January 25, 2014

The $930 million in damages Samsung was ordered to pay Apple last year for infringing its smartphone patents is more than some device makers earn in a year, but for Samsung it’s equal to just over 16 days’ worth of profit. The Seoul-based company reported its financial results Friday and said quarterly operating profit from its IT and mobile communications division, which sells primarily phones and tablets, came to $5.1 billion. That works out to roughly $56.6 million per day, so the damages it was ordered to pay Apple in one of their California lawsuits amounts to just over two weeks of profit. For Apple, it’s not much different. The California company is due to report its earnings Monday, but based on its July-to-September quarter, the money it was awarded from Samsung is equivalent to eight days of company operating profit. (Unlike Samsung, Apple doesn’t break out its profits from mobile.)To read this article in full or to leave a comment, please click here

Link: http://www.pcworld.com/article/2091380/samsungs-apple-damages-equivalent-to-16-days-profit.html#tk.rss_all