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[All Things D] Samsung Loses $1 Billion in Market Value After U.S. Vetoes Apple Import Ban

post #1 of 9
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Quote:
More than $1 billion was wiped out of Samsung Electronics Co.’s market value early Monday after a surprise decision by the Obama administration over the weekend to veto an import ban on some Apple Inc. products in the U.S.
Early Monday, South Korea’s biggest company by market capitalization fell 0.6% to 1,278,000 won ($1,137), wiping out $1.05 billion of Samsung’s market capitalization.

Washington’s decision dealt a blow to Samsung, Apple’s top smartphone competitor, just as it is seeking to expand its footprint in the U.S. market.

This Friday, the International Trade Commission is slated to decide whether to ban certain Galaxy mobile product imports to the U.S. after Apple filed a complaint alleging patent violation.

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post #2 of 9
They better not double standard this thing just because it's a foreign company.

EDIT:

Actually this is a double posted thread. There's another one here.
http://www.overclock.net/t/1415934/information-week-iphone-sales-ban-overturned-samsung-takes-hit/0_100

he beat you by a minute tongue.gif
Edited by lacrossewacker - 8/5/13 at 8:31am
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post #3 of 9
Quote:
Originally Posted by lacrossewacker View Post

They better not double standard this thing just because it's a foreign company.

EDIT:

Actually this is a double posted thread. There's another one here.
http://www.overclock.net/t/1415934/information-week-iphone-sales-ban-overturned-samsung-takes-hit/0_100

he beat you by a minute tongue.gif

Seriously... Would look really bad, particularly since they stated it was for the sake of competition.
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post #4 of 9
A drop of $1 billion seems a bit extreme; it's probably a good time to buy some Samsung stock before it rebounds wink.gif
Quote:
Originally Posted by SectorNine50 View Post

Seriously... Would look really bad, particularly since they stated it was for the sake of competition.

Didn't Apple get a ban on Samsung imports a while back and the Obama administration did jack?
Edited by smitty5569 - 8/6/13 at 2:35pm
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post #5 of 9
"This Friday, the International Trade Commission is slated to decide whether to ban certain Galaxy mobile product imports to the U.S. after Apple filed a complaint alleging patent violation." This makes me think that the U.S. government is catering to Apple because they want a company based in their country to keep it's foothold there. The fact that these two events coincide doesn't seem like a coincidence. The government seems to be beating down on Samsung pretty hard, but allowing Apple to continue with their ridiculous patents. I understand vetoing the Apple ban, but lets be honest... the U.S. government doesn't seem to want Samsung here in the first place.
post #6 of 9
I smell a lawsuit against the US Government.
post #7 of 9
Quote:
Originally Posted by Forsakenfire View Post

I smell a lawsuit against the US Government.

Held where, the US? wont win obviously. Held in Korea, US wont care the outcome.
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post #8 of 9
Quote:
Originally Posted by EniGma1987 View Post

Held where, the US? wont win obviously. Held in Korea, US wont care the outcome.

im sure non-western countries will see this as a doublestandard... not only korea, im sure a lot of other places will jump on the bandwagon too
post #9 of 9
all this achieves is more hate towards apple due to the double standard and getting away with it
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Overclock.net › Forums › Industry News › Technology and Science News › [All Things D] Samsung Loses $1 Billion in Market Value After U.S. Vetoes Apple Import Ban