Apple (NASDAQ:AAPL) and Samsung decided to shake hands and effectively put an end to lawsuits filed against each other in countries beyond the shores of America which they had been fighting over since 2011. The agreement covers the countries including Germany, Netherlands, France, Italy and UK in Europe, Japan and South Korea in Asia and Australia in the southern hemisphere.
As per the joint statement issued by officials of both companies –
“Samsung and Apple Inc. (NASDAQ:AAPL) have agreed to drop all litigation between the two companies outside the United States. This agreement does not involve any licensing arrangements, and the companies are continuing to pursue the existing cases in U.S. courts.”
Described as a patent dispute, it was triggered during the first decade of the new millennium when the smart-phone market was booming with possibilities of unlimited growth and rich dividends. While Apple Inc. (NASDAQ:AAPL) complained that Samsung was stealing technology that it held patent for, the latter contended that Apple was trying to monopolize the market with the intention of limiting choices and raising prices for the consumers. Matters culminated in Apple Inc. (NASDAQ:AAPL) filing a case against Samsung in 2011 and since then both companies have been engaged in a bitter battle.
Having been repeatedly urged by courts to settle their difference through mutual reconciliation, both companies toned down the crisis since June this year thus resulting in the recent official statement concerning dropping of lawsuits. However, this is limited only to countries except USA wherein existing cases are being followed by unrelenting gusto.
According to Michael Risch, professor of law at Villanova University, Pennsylvania, the two companies regarded –
“mixed worldwide results as not worth the effort.”
He also cautioned that they may – “just be taking a breather before the next skirmish begins.”
Apple Inc. (NASDAQ:AAPL) has had the satisfaction of having won several lawsuits in USA but Samsung has never acknowledged defeat. Under the circumstances, experts say that in the growing market for touch-screen smart-phones, there are now several players to contend with and that has acted as a catalyst for both companies to give up the fight so as to be able to concentrate more on core issues.