Samsung to Pay Apple a Shocking Amount to Settle Lawsuit

In a joint statement filed Thursday in U.S. District Court, Samsung agreed to pay Apple just over $548 million by Dec. 14 in a partial settlement of a long-standing patent dispute between the two companies. The agreement follows a September ruling by the U.S. Court of Appeals that found Apple had the right to seek an injunction to prevent Samsung from using several smartphone features found to infringe on Apple patents.

The dispute between the two companies began in 2011, four years after Apple came out with its first iPhone. Apple had obtained numerous patents in connection with its iPhone technology, and sued Samsung for patent infringement alleging the company had copied several key features such as "slide to unlock."

Under the statement filed Thursday with U.S. District Court Judge Lucy H. Koh of the Northern District of California, San Jose Division, Samsung has agreed to pay Apple $548 million but reserves the right to seek reimbursement if later court decisions go in its favor. The partial settlement is significantly less than the $1 billion-plus awarded to Apple by a jury considering the case in 2012.

Samsung: 'Grossly Exaggerated Damages'

"We are disappointed that the court has agreed to proceed with Apple's grossly exaggerated damages claims regardless of whether the patents are valid," a Samsung spokesperson told us today. "While we've agreed to pay Apple, we remain confident that our products do not infringe on Apple's design patents, and we will continue to take all appropriate measures within the legal system to protect our products and our intellectual property."

The Samsung spokesperson noted that the U.S. Patent and Trademark Office "has found some of Apple's patents to be invalid." The USPTO in 2013 concluded that Apple's "pinch-to-zoom" feature -- Patent No. 7,844,915 -- was unpatentable.

Apple did not respond to our...

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