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Samsung shares fall after it sues Huawei over patents | Samsung shares fall after it sues Huawei over patents |
(about 2 hours later) | |
Shares in Samsung Electronics are falling after the smartphone giant sued rival Huawei in multiple courts in China over alleged patent infringement. | Shares in Samsung Electronics are falling after the smartphone giant sued rival Huawei in multiple courts in China over alleged patent infringement. |
They're down by 2% in Seoul. The benchmark Kospi is trading flat. | They're down by 2% in Seoul. The benchmark Kospi is trading flat. |
The two companies are already entangled in several legal battles over the use of proprietary technology, including fourth-generation (4G) cellular technology, operating systems and user interface software. | The two companies are already entangled in several legal battles over the use of proprietary technology, including fourth-generation (4G) cellular technology, operating systems and user interface software. |
Huawei sued Samsung in the US in May. | Huawei sued Samsung in the US in May. |
The rest of Asia's share market are mostly lower on Friday due to a tepid earnings season so far on Wall Street. | The rest of Asia's share market are mostly lower on Friday due to a tepid earnings season so far on Wall Street. |
Japan's Nikkei and the broader Topix are both 0.8% lower in Tokyo. | Japan's Nikkei and the broader Topix are both 0.8% lower in Tokyo. |
However Nintendo shares have outperformed the broader market, jumping by nearly 5% on news it's finally launched the wildly popular Pokemon Go in Japan. | |
Australian shares are down 0.3% and New Zealand stocks are marginally higher by 0.1%. | Australian shares are down 0.3% and New Zealand stocks are marginally higher by 0.1%. |
Hong Kong's Hang Seng and the Shanghai Composite are both 0.4% lower. |