Market Chatter: Samsung Electronics to Assess Countermeasures to Court Order Over Swatch Group Damages Suit

MT Newswires Live08-27 13:27

Samsung Electronics (KRX:005930) will look into all potential countermeasures, including an appeal, to a U.K. High Court's order of an $11.6 million payment in damages to Swatch Group, The Korea Times reported Thursday, citing a statement.

The ruling was for a damages suit that looked into how much the South Korean consumer electronics company should pay for hosting smartwatch watch face designs copying Swatch brands on its Galaxy app store, the report said.

Swatch Group originally asked for $170 million in damages, while Samsung Electronics previously said it only gained $300 from hosting the designs, according to the report.

Samsung Electronics did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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