Seoul shares to have a weak opening post U.S. ruling on Samsung devices
Samsung isn’t having a good time in the U.S. in its legal troubles with Apple, with the Korean manufacturer first feeling the heat after the White House vetoed a ban it had managed to win against several Apple products, then by having its own products banned by the ITC just a week later. As a result, the share market in Seoul is expected to have a weak opening, with Samsung likely to come under pressure.
Samsung devices were found to infringe two of Apple’s patents related to touchscreen technology and headphone jacks, due to which Samsung is expected to face a ban on import of several of its devices in the U.S. Almost all of those devices aren’t actually in production any more, but the fallout of the court ruling is still expected to have an effect on Seoul’s shares once the market opens this week.