Apple Stock Price: Korea Worried by Obama’s Veto of Apple Ban

on Aug 6, 2013
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iNVEZZ.com Tuesday August 6th: South Korea is worried that US President Barack Obama’s veto on the ban on imports of Apple’s (NASDAQ:AAPL) older models of mobile devices may have a negative impact on Samsung Electronics’(KRX:005930) patent rights. On Friday, in a separate patent case involving Apple and Samsung, the International Trade Commission will be deciding whether to ban US imports of some of Samsung’s products.

The veto on the ITC’s decision imposed by the Obama administration has been the first one since President Ronald Reagan intervened in a case involving Samsung in 1987 and allowed the Korean company to import its memory chips in the US.
This time there has already been a ruling against Samsung by an administrative law judge and the ITC usually upholds the judge’s decisions. However, now the case is different because a ban on US imports of some of Samsung’s products might strain relations between the two countries. It is unlikely that President Obama will veto a possible ban, so the ITC commissioners are carrying most of the burden. `

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In the case against Apple, the decision to block the ruling was taken because Samsung’s patent is essential for the operation of 3G systems. Such patents, required for an invention to comply with technical standards, are called standard-essentials patents (SEP). This doesn’t apply to the case to be decided on Friday, as Apple alleges that Samsung has infringed on one its design patents, as well as a few technology patents.

Samsung said in a statement issued after the veto: “We are disappointed that the US Trade Representative has decided to set aside the exclusion order issued by the ITC. The ITC’s decision correctly recognised that Samsung has been negotiating in good faith and that Apple remains unwilling to take a licence.”
As expected, Apple hailed the veto: “We applaud the [US] administration for standing up for innovation in this landmark case. Samsung was wrong to abuse the patent system in this way.”

!m[Samsung Facing Similar Import Ban on Friday](/uploads/story/4606/thumbs/pic1_inline.jpg)
The veto, however, hasn’t taken away Samsung’s opportunity to sue Apple for patent infringement. In fact, the Korean company has been granted a hearing at the U.S. appeals court and it could eventually draw penalties against Apple.

**Apple’s stock price opened at $464.69 today, up 0.5 percent, and was at $469.45 as of 06.08.2013, 13:29 BST.**
**Samsung Electronics’ stock price was 1,254,000 won (£731.08) as of 06.08.2013, 13:29 BST.**

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