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Samsung looks to set new record for Q3 operating profits

by Alistair Lowe on 5 October 2012, 10:15

Tags: Samsung (005935.KS)

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Though just an indication of wealth at this stage, with the final figures to show-up sometime before October 26th, Samsung has briefed investors to expect third-quarter operating profits of around £4.5 billion.

This is a 25 per cent increase over last quarter's £3.6 billion and more than double the same quarter last year, clearly carrying some of the profits from the firm's highly-successful Galaxy S3 smartphone, which has now sold over 20 million units, looking likely to reach 30 million before the year's end, despite its staggered release, only beginning just over four months ago.

With growth of this magnitude, the £650 million that Apple was awarded against Samsung in recent US patent trials feels somewhat insignificant, with investors tending to agree, seeing Samsung shares rise by 1.5 per cent after the announcement. On the note of trials, Samsung has officially requested a retrial, claiming that there's clear evidence that the jury foreman, Velvin Hogan, likely provided misleading statements to the jury and that he omitted relevant information during jury selection.

As we highlighted ourselves following a BBC interview with Mr Hogan, there was a clear misunderstanding over the concept of design patents, utility patents and prior art and Samsung agrees:

Finally, Mr. Hogan's self-reported conduct during the jury deliberations presents the "reasonable possibility" that extraneous material "could have affected the verdict." In post-verdict interviews with the media, Mr. Hogan said that he told his fellow jurors an accused device infringes a design patent based on "look and feel" that an accused device infringes a utility patent unless it is "entirely different," that a prior art reference could not be invalidating unless that reference was "interchangeable," and that invalidating prior art must be currently in use. These incorrect and extraneous legal standards had no place in the jury room.

It looks as though ramblings between Apple and Samsung are far from over and, with record mobile sales figures, seeing Apple slowly reduce iPhone component reliance on Samsung, the Korean firm is likely to have a lot more bite to its bark than before.

HEXUS Forums :: 7 Comments

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Is that figure before or after setting aside the money they may have to pay apple?
They haven't had to pay it yet due to the appeal and, having read the details, it looks like they may win it.
Im glad samsung kicked off about the silly comment of interchangeability as they used it against samsung and for apple as in two different rules for each, Samsung infringed yet their software isnt ‘interchangeable’ so how did they infringe? Apple patents werent invalidated as prior art wasnt interchangeable, useless. Its even worse than that idiot simply being misguided, I believe its the same guy but its come to light that he lied when he said he had only been in one other court case, he was in 3 and they were Seagate (his previous employer!) sueing him over stealing secrets or something, he lost and went bankrupt, pretty sure anyone would have a grudge against a company that essentially OWNS his ex employer… cant believe this sneaked in its so bad.

Oh here it is:
“Samsung said foreman Velvin Hogan had provided an incomplete answer during jury selection.

It said he had revealed he had been involved in a single previous lawsuit, but had failed to disclose two others.

It noted that Mr Hogan had been sued by his former employer - hard disk maker Seagate - for breach of contract, and had subsequently filed for personal bankruptcy.

Samsung's filing highlights that it is the biggest direct shareholder in Seagate, following a $1.4bn deal in 2011.

”Mr Hogan's failure to disclose the Seagate suit raises issues of bias that Samsung should have been allowed to explore in questioning,“ its lawyers wrote.”
Hahahaha that is so absurd it's funny - I guess Apple might regret this case after all
I would just like to give Samsung a massive cyber *high-five*

Keep it up and fingers crossed for the upcoming lawsuits, it's looking pretty damn good for Samsung right now.

Imo Apple will take some serious losses in the next year or so. They have always been a high end/overpriced product but somehow with all the hype and nonsense they managed to sell to nearly everyone and many times. Now things should settle and it's going to be so much harder to convince people to buy their goodies.