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Samsung will pay 80 million Yuan to Huawei over patent case
Samsung Electronics's mainland subsidiaries have been ordered by a Chinese court to pay up to 80 million Yuan to Huawei Technologies for patent infringement. That’s a Chinese company’s first victory against Samsung in clashes over intellectual property.
The Quanzhou Intermediary Court has ordered three units of Samsung to pay the sum for infringing a patent officially held by the handset unit of Huawei - Huawei Device Co Limited. That’s what a government-run newspaper, the Quanzhou Evening News informed on Thursday on its website.
The verdict appears to be the first on several lawsuits of Huawei against Samsung. By the way, in May Huawei filed lawsuits against the South Korean giant in Chinese and US courts. In return Samsung countersued the Chinese rival in China for IP infringement.
Huawei’s spokesman told it welcomed the court's verdict. As for Samsung, the South Korean giant told it will decide on the response to the court's verdict after reviewing the ruling.
The European unemployment rate is announced on Wednesday at 12:00 MT time.
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The Reserve Bank of Australia announces the cash rate on Tuesday at 05:30 MT time.