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Apple CEO Steve Jobs departed from Apple as chief executive of the highest valued tech company in the world, and that has been stirring a lot of buzz in the blogosphere throughout the day. It also raised some eyebrows overseas, among reporters, Apple’s competitors and their investors. That list includes Samsung, the largest manufacturer of Android handsets based in, and LG, both based in South Korea.
The Wall Street Journal reported the market’s reaction:
“Investors clearly thought Mr. Jobs’ departure from Apple would be good for the Korean electronics firms. Shares in Samsung closed up 2.4% on Thursday, despite word that a Dutch court on Wednesday barred it from selling several smartphone models in much of Europe. LG shares finished up 1.3%. The broader Kospi index finished up .56%.”
LG released a statement that reads “we are confident that Apple will continue to succeed because they have more than one capable leader,” referring to COO Tim Cook, who will be taking over as the new chief executive of Apple. Samsung, on the other hand, declined to comment, though it’s no surprise considering its current position.
Samsung and Apple are tangled up with 19 mobile patent infringement lawsuits around the world, as a part of a broader effort by the latter to challenge Google’s competing Android operating system. Apple, however, is not just a competitor, but also Samsung’s component businesses’ largest customer. Microsoft has taken a similar strategy to try to bank on (rather than competing with) Android by going after the OEMs.
The mobile space is certainly a very active one in terms of court activity, and in a fresh twist to the story yet another company sued Samsung today. Simbirsk-Crown, a Russian home appliance manufacturer, filed a lawsuit against Samsung claiming that the Galaxy brand name is infringing its patent rights. The company is demanding $90 million from Samsung, and about $3.4 million from some of the retailers that sell the company’s’ devices in the nation.
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