Samsung Ordered to Pay Swatch $11.6 Million in UK Trademark Lawsuit

MT Newswires Live08-27

The High Court of England & Wales has ordered Samsung Electronics (KRX:005930) to pay $11.6 million to the Swatch Group, ruling that the company had infringed the Swiss company's trademarks.

A spokesperson from Swatch Group confirmed the ruling to MT Newswires, saying, "Samsung repeatedly attempted to downplay the scale and significance of the infringements by trivializing the compensation owed to the Swatch Group's well-known brands."

The ruling covers 10 of Swatch Group's brands including Tissot, Omega and Longines, with the court finding that Samsung infringed the trademarks on its smartwatches and within the Galaxy App Store between October 2015 and February 2019.

Separate legal proceedings brought by the same 10 brands against Samsung remain pending in the US before courts in New York.

Samsung's shares rose 3% in early-morning trade in Seoul on Thursday.

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