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Apple Inc. (NASDAQ:AAPL) Celebrates Alone As Major Tech Firms Hug Samsung

Apple Inc. (NASDAQ:AAPL)

Apple Inc. and SAMSUNG ELECTRONIC are engaged in an ongoing legal battle, where the Korean firm has the support of many major tech firms that include Facebook , Alphabet Inc. , Dell , and HP . All these plus five other firms jointly filed a statement to the Supreme Court in support of Samsung.

Tech giants back Samsung

Supporting Samsung, the tech firms said it was unfair to order the Korean firm to pay Apple such a big fine even if it was actually guilty of infringing on some of Apple’s design patents. The tech firms have requested the Supreme Court to hear Samsung’s appeal, and referred the lower court’s decision as ‘flawed.’

Apple Inc. (NASDAQ:AAPL)

“Awarding a design patentee the total profit from an infringer’s product when the design covers only a relatively minor portion of the product is out of proportion with the significance of the design and out of touch with economic realities,” the brief reads.

The dispute dates back to 2011, when Apple Inc. accused Samsung of copying elements of the iPhone’s hardware and software design. Two of the patents are concerned with the Phone’s shape while the other patent was related to the layout of colorful icons in a grid.

Samsung argued that its penalty should be only limited to the profits it made specifically from the three infringed patents. This argument was denied. In a filing to the U.S. Supreme Court, the Korean firm said it is not right that someone has the ownership of rectangles, round corners, the color black or the concept of a grid of icons.

Apple loses a key employee

In a separate news, Apple lost one of its designers, who played an important role in the development of Apple’s newest TV box. Ben Keighran, who co-founded a startup that Apple bought four years back, said he is soon leaving the firm and intends to start something new eventually. Ben said he does not aim at just creating a killer product rather an iconic firm of his own, says Re/code.

Keighran has been overseeing the look and feel of the software on the Apple TV for the past three years. The product, which is priced at $149, makes it possible for the users to watch Web video on their TV. The software also includes parts of Chomp – the search startup Keighran co-founded and sold to Apple in 2012. Two years back, Apple also lost Cathy Edwards, who was Keighran’s co-founder at Chomp.

On Tuesday, Apple Inc. shares closed down 0.48% at $96.66. Year to date, the stock is down over 8% while in the last one-month, it is down almost 9%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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