Samsung loses 8% after the stop to the sales of the Galaxy Note 7 – Milano Finanza

The shares of Samsung Electronics closed down 8% at the Stock exchange in Seoul after the announcement of the suspension of the global production and sales of the phone Galaxy Note 7. The stop is due to the danger of catching fire spontaneously or as a result of defective batteries.

The multinational Korean has come even to ask the buyers of the smartphone to turn off the device and do not use it. In detail, Samsung has claimed in a communiqué that “I will ask all partners around the world to stop the sales and substitutions of the Galaxy Note 7 while further investigations are ongoing” about the causes of a problem that led to the recall of 2.5 million smartphones. The fiasco that was the Galaxy Note 7 could cost up to 17 billion dollars, or the proceeds that the group of south korea had estimated the life-cycle of the smartphone.

The decision to block sales following the rumors yesterday on the temporary block of production made necessary due to problems of overheating are detected on the smartphone, made available for the replacement program. “We are working with the relevant authorities to investigate on the latest cases relating to the Galaxy Note 7″, he then said Samsung. The decision to stop production and sales has been supported for example by the Consumer Product Safety Commission in the United States, who spoke of a “right decision” on the part of the Korean company.

In the meantime, after five years of litigation the dispute over patents between Apple and Samsung comes before the Supreme Court of the Usa, which today will take care of the fine of $ 400 million that the south Korean company was ordered to pay for violating some patents on the design of the Cupertino company. It is the first time in 120 years that the Supreme Court in the Usa, in charge of design patents. Samsung has already agreed with Apple compensation from 548 million dollars in a dispute that began in 2012 for infringement of patents on the technology, which initially Apple was asking for damages for a billion dollars. That amount was later reduced to 930 million dollars, and later divided into sections.

The 548 million dollars of the agreement in california are part of a dispute over technology patents, while the other lite from 399 million relates to the charge of having copied the design of Apple, and on this side of the story, the Supreme Court of the Usa has accepted the decision. The law of design patents Use is not changed for 120 years and was created in an era in which the products were much more simple and to protect all it took was a single patent. Today, a smartphone only and protected by thousands of patents, and, as it is interpreted of the law, if a single patent on a small piece of the product is infringed the holder of that patent can claim damages on the profits generated by the entire product. Samsunug, therefore, asks the Supreme Court to protect the principles of competition and innovation, while Apple refers to the defense of the principle of intellectual property.