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Samsung shares fall after it sues Huawei over patents | Samsung shares fall after it sues Huawei over patents |
(about 1 hour later) | |
Shares in Samsung Electronics have dropped after the smartphone giant sued rival Huawei in multiple courts in China over alleged patent infringement. | Shares in Samsung Electronics have dropped after the smartphone giant sued rival Huawei in multiple courts in China over alleged patent infringement. |
They closed down 1.8% in Seoul. | They closed down 1.8% in Seoul. |
The country's benchmark Kospi index wrapped the day flat at 2,010.34. | The country's benchmark Kospi index wrapped the day flat at 2,010.34. |
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 225 closed 1.1% lower at 16,627.25 points. | Japan's Nikkei 225 closed 1.1% lower at 16,627.25 points. |
Nintendo shares ended the day 0.8% higher after earlier jumping by nearly 5% on news it's finally launched the wildly popular Pokemon Go in Japan. | Nintendo shares ended the day 0.8% higher after earlier jumping by nearly 5% on news it's finally launched the wildly popular Pokemon Go in Japan. |
Australian shares finished down 0.3% at 5,498.20. | Australian shares finished down 0.3% at 5,498.20. |
Hong Kong's Hang Seng wrapped up trading flat at 21,964.27, while the mainland's Shanghai Composite closed 0.9% down at 3,012.43 points. |