Samsung Electronics Co, the world’s top handset maker, saw its share price fall the most in a week in Seoul trading after Apple Inc won a court ruling blocking sales of the Galaxy Nexus smartphone in the US.
Samsung dropped 2.3 percent, the most since June 25, to 1,174,000 won at the close of trading on the Korea Exchange.
The latest US ruling puts handset sales in a major market at stake for Samsung, as Apple has sought to bar as many as 25 Samsung smartphones, including the latest, the Galaxy S III.
“People are concerned that this could spill over to the S III, because if the same rationale applies to the S III, it’ll be a big blow to Samsung,” Seoul-based Dongbu Securities Co analyst Shin Hyun-joon said by telephone. “This isn’t an issue that will conclude any time soon.”
Sales of the Galaxy S III, the latest version in Samsung’s best-selling smartphone series, started in the US last month. Sales in the US were the largest overseas source of revenue for Samsung last year, according to data compiled by Bloomberg.
Samsung appealed the ruling on Sunday, Samsung spokesman Nam Ki-yung said yesterday.
The impact of the ban on the Nexus smartphone alone will not be big for Samsung, because the model is estimated to sell fewer than 1 million units a year in the US, Shin said. Samsung, which does not disclose shipment figures for smartphones and tablet computers, sold 44.5 million smartphones globally in the first quarter, topping Apple, according to market researcher Strategy Analytics.
The ruling by US District Judge Lucy Koh in San Jose, California, follows her June 26 order blocking sales of Samsung’s Galaxy Tab 10.1 tablet in the country. On June 7, Koh expedited evidence sharing for Apple’s bid to block sales of Samsung’s Galaxy S III.
The Nexus smartphone, the first smartphone to run Google Inc’s Android version 4.0, was unveiled by Samsung and Google in Hong Kong in October last year.
The disputed patent that led to the June 29 ruling involves a Google search function that shows results from multiple sources and Samsung is working closely with its US partner to resolve the ban, the South Korean company said on Saturday in a statement.
Google may be able to tweak its software to dodge the ruling, Seoul-based Nomura Holdings Inc analyst C.W. Chung wrote in a report yesterday.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
STAYING AHEAD: TSMC expects its sales this year to grow 14 to 19 percent and could spend up to US$3.52 billion on research and development, leaving its rivals far behind Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) reported that the US last year approved 99 percent of its patent applications, which placed the tech giant among the top patent holders in the US. In its Corporate Social Responsibility Report, TSMC said it last year secured about 3,600 patents worldwide, including more than 2,300 in the US. As of the end of last year, TSMC owned more than 39,000 patents, the report said. The company last year filed almost 6,500 patent applications worldwide and ranked among the top 10 patent applicants in the US. In Taiwan, it was the largest patent applicant for the fourth