Breaking News: Samsung Stock Plunges 7% and All Eyes on Galaxy S3
Asian markets reacted swiftly to the Apple-Samsung trial verdict early Monday. Samsung’s stock plunged 7% in Asia as investors tried to make sense of the San Jose court ruling.
Though said to be sitting on a $21 billion pile of cash, the verdict could have far-reaching consequences.
All eyes are on Samsung’s latest, greatest smartphone – the Galaxy S3. While the S3 is breaking sales records around the world, one big question remains – will Apple go after the S3?
In the next few weeks, the same California judge who is presiding over the intellectual property trial will decide which Samsung products to ban in the US.
If the S3 is added to the list, all bets are off.
If, as expected, the judge bans older Samsung products, Samsung is expected to recover in the next year as they release newer products that their engineers and lawyers have approved as “not too close to Apple”.