Samsung, which plans to contest the verdict, is asked to pay an amount of $1.05 billion to Apple. The decision was taken by a jury in San Jose, California. Apple had accused Samsung of copying its iPhone design, which took the firm five years to design. Following the lost, Samsung shares slumped $78.38 to $1,043.88. This decline was the biggest the Korean giant saw since October 2008. Samsung also announced a loss of $12 billion in the market value. Samsung, however, called the verdict “a loss for the American consumer” and promised to appeal. Apple reportedly is expected to file a case asking to ban Samsung’s products in the US market, which supposedly infringe the patents. In case, the jury decides in favor of Apple, sales of Samsung’s smartphones could take a big hit. Samsung was reported to sell around 52 million smartphones in the second quarter.
