Apple wins $1 billion in patent suit against Samsung

The verdict affects patents on a range of Samsung products including some of its popular Galaxy smartphones and its Galaxy 10 tablet -- devices alleged to have been copied from the iPhone and iPad

San Francisco: Apple has won more than $1 billion in a massive victory over South Korean giant Samsung, in one of the biggest patent cases in decades -- a verdict that could have huge market repercussions, reports PTI.
A jury in San Jose, California rejected Samsung's counterclaims against Apple yesterday, according to media reports -- a big win for the Silicon Valley giant, which had claimed its iconic iPhone and iPad had been illegally copied.
The jury, which had examined infringement claims and counter-claims by Apple and Samsung, ruled the South Korean electronics giant had infringed on a number of patents, the tech websites Cnet and The Verge said in live courtroom blogs.
The verdict affects patents on a range of Samsung products including some of its popular Galaxy smartphones and its Galaxy 10 tablet -- devices alleged to have been copied from the iPhone and iPad.
"This is a huge, crushing win for Apple," said Brian Love, a professor of patent law at Santa Clara University.
"All of its patents were held valid, and all but one was held to be infringed by most or all accused Samsung products. Even better for the company, five of the seven patents were held to be wilfully infringed by Samsung." 
Love said this means that Judge Lucy Koh "now has the discretion to triple Apple's damages award, which is already a monstrous and unprecedented 1.051 billion." 
Technology analyst Jeff Kagan said of the verdict: "This is a great day for Apple. And it will turn into a very expensive day for Samsung." 
Kagan said it was not immediately clear if Samsung would be able to continue to use the technology and pay Apple for the right to do so, or if they must pull their devices and redesign them.
In any case, the verdict in the case -- one of several pending in global courts -- is likely to have massive repercussions in the hottest part of the technology sector, smartphones and tablets.
Even a delay in sales could endanger Samsung's position in the US market, where it is currently the top seller of smartphones.


Unable to convince HQ for diesel engine plant: Toyota Kirloskar

Toyota Kirloskar said here is no stability of diesel pricing policy in India and a company like us cannot keep on changing strategy

New Delhi: Toyota Kirloskar Motor's (TKM) plan to set up a diesel engine plant is held up as it is unable to convince its Japanese parent because of the lack of clarity in pricing policy of the fuel in India, reports PTI.


"If you look at the market dynamics in India there is an increase in the demand for diesel. We have been conducting a feasibility study on diesel engine manufacturing in India but are unable to convince our headquarter," TKM deputy managing director (Marketing) Sandeep Singh told reporters.


"There is no stability of diesel pricing policy and a company like us cannot keep on changing is about going and asking for changing of plan and ask for investment in a new technology," he added.


In April, TKM is understood to have put forward a proposal to set up the plant in India after the Budget for 2012-13 spared diesel vehicles from additional taxes.


There has been demand to increase taxes of diesel passenger vehicles from different quarters to prevent usage of the subsidised fuel for "luxury". However, the automobile industry has been asking the government to deregulate diesel price in line with petrol.


When asked how long will the company take to decide on setting of the diesel engine plant, Singh said: "We cannot give a timeline...the feasibility study is still going on."


He said the company has started petrol engine production from its Bangalore plant, which has a total capacity of one lakh units annually.


The plant has been set up at an investment of Rs500 crore. In the first year the company is looking at producing about 30,000 to 35,000 units of engines depending on market demand.


"At present 22 per cent of the total monthly sales of about 7,000 units of Etios and Liva, is petrol and the rest diesel."


Asked about launching of Toyota's luxury brand Lexus in India, Singh said: "There is an apprehension about the increase in customs duty...we are still studying the market and we hope to get a clear direction by the end of this year."


The company had earlier said it would bring the brand in India by 2013 and planned to set up exclusive Lexus showrooms to sell cars and sports utility vehicles of the brand.


Toyota Motor is also planning to launch eight new products, including Etios, in the mid-term.


"We will launch eight new products in the emerging markets and India will be a prominent one. The products will be introduced in the next 6-8 years," Toyota Motor Asia Pacific Executive Vice President Vince Socco said without disclosing details.


Upmove surrendered: Friday Closing Report

If the Nifty breaches the day’s low again we may see it finding support at 5,295

The market settled lower on weak global cues and selling in capital goods and banking stocks. Yesterday we had mentioned that the Nifty has to stay above the day’s low of 5,394 for the uptrend to continue. The index opened almost at this level and struggled to cross but closed below this level. If the index breaches the day’s low again we may see it finding support at 5,295. The National Stock Exchange (NSE) saw a volume of 59.36 crore shares.  This means that the market has declined on higher volumes. 
The Indian benchmarks witnessed a gap down opening on unsupportive global cues. US stocks settled lower overnight as hopes of new initiatives from the Federal Reserve receded and flash manufacturing data from China and Europe for August showed a decline. The economic slowdown, as reflected in the lower-than-expected manufacturing data, resulted in the Asian markets trading lower this morning.
Back home, the Nifty opened 22 points down at 5,393 and the Sensex started off at 17,790, down 60 points from its previous close. The indices hit their highs in initial trade with the Nifty rising to 5,400 and the Sensex going up to 17,823. However, banking, metal, auto and capital goods stocks kept the indices down in subsequent trade. 
The market witnessed a high degree of choppiness from the opening bell itself, which added to the pressure on the benchmarks. Offloading of blue chips by institutional investors kept the indices in the negative.
The benchmarks fell to their lows in noon trade as the negative opening of the key European indices added to the woes in the local market. At the lows, the Nifty went back to 5,371 and the Sensex fell to 17,725. 
The market recovered from the lows in the post-noon session on select buying, but the gains lacked strength, thus keeping the indices in red. The Nifty closed 29 points (0.53%) down at 5,387 and the Sensex settled at 17,873, down 67 points (0.38%).
The advance-decline ratio on the NSE was in favour of the losers at 494:924.
Among the broader indices, the BSE Mid-cap index declined 0.58% and the BSE Small-cap index dropped 0.78%.
The gainers in the sectoral space were BSE Fast Moving Consumer Goods (up 0.34%); BSE Healthcare (up 0.25%) and BSE Auto (up 0.05%). The top losers were BSE Realty (down 1.08%); BSE Power (down 0.80%); BSE Capital Goods (down 0.79%) and BSE Metal (down 0.57%).
The Sensex was led by Coal India (up 2.26%); ONGC (up 1.95%); Cipla, Maruti Suzuki (up 0.88% each) and Sterlite Industries (up 0.63%). The major losers on the index were Tata Steel (down 2.73%); Jindal Steel (down 2.33%); Hindalco Industries (down 1.99%); ICICI Bank (down 1.79%) and Reliance Industries (down 1.55%).
The top two A Group gainers on the BSE were—Jain Irrigation (up 5.16%) and Opto Circuits (up 5.03%).
The top two A Group losers on the BSE were—IFCI (down 16.31%) and Bajaj Finserv (down 6.79%).
The top two B Group gainers on the BSE were—Shelter Infraprojects (up 20%) and Punjab Alkalis (up 19.94%).
The top two B Group losers on the BSE were—Spectacle Infotek (down 14.86%) and Jai Mata Glass (down 14.29%).
The top Nifty gainers were ONGC (up 2.13%); Coal India (up 2.09%); BPCL (up 1.20%); Maruti Suzuki (up 1%) and Sesa Goa (up 0.95%). The top laggards were Reliance Infrastructure (down 3.01%); DLF (down 2.92%); Jaiprakash Associates (down 2.91%); Jindal Steel (down 2.78%) and Tata Steel (down 2.77%).
Markets across Asia closed down as hopes for new initiatives from the Federal Reserve to boost growth diminished and manufacturing data from China and Europe came in lower-than-expected. The tardy progress on resolving the European debt crisis also weighed on investors.
The Shanghai Composite dropped 0.99%; the Hang Seng tanked 1.25%; the Jakarta Composite declined 0.41%; the KLSE Composite fell 0.21%; the Nikkei 225 contracted 1.17%; the Straits Times slipped 0.19%; the Seoul Composite settled 1.17% down and the Taiwan Weighted lost 0.37%.
At the time of writing, the key European indices were down between 0.23% and 0.54% and the US stock futures were marginally down.
Back home, foreign institutional investors were net buyers of stocks totalling Rs311.78 crore on Thursday while domestic institutional investors were net sellers of shares amounting to Rs161.10 crore.
Reliance Power today said it has signed an agreement with China Datang Corporation for a strategic partnership to develop and operate power and energy projects both here as well as overseas, making it the first partnership between the two countries in the power sector. Reliance Power jumped 2.55% to close at Rs86.30 on the NSE.
BASF India Rs1,000-crore greenfield chemicals project at Dahej in Gujarat will be entirely funded by debt from its group company, BASF Co-ordination Centre NV. The debt will come in the form of external commercial borrowings, according to rating agency Crisil. BASF declined 2.81% to settle at Rs639.90 on the NSE.
Jyoti Structures has received domestic and export orders worth Rs1,491 crore. The orders include 400 Kv transmission lines on turnkey basis in India and Kenya, and also project related to rural electrification. The stock surged 5.79% to Rs40.20 on the NSE.


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