Samsung Loses $1 Billion in Market Value After U.S. Vetoes Apple Import Ban

More than $1 billion was wiped out of Samsung Electronics Co.’s market value early Monday after a surprise decision by the Obama administration over the weekend to veto an import ban on some Apple Inc. products in the U.S.

Early Monday, South Korea’s biggest company by market capitalization fell 0.6% to 1,278,000 won ($1,137), wiping out $1.05 billion of Samsung’s market capitalization.

Washington’s decision dealt a blow to Samsung, Apple’s top smartphone competitor, just as it is seeking to expand its footprint in the U.S. market.

This Friday, the International Trade Commission is slated to decide whether to ban certain Galaxy mobile product imports to the U.S. after Apple filed a complaint alleging patent violation.

Read the rest of this post on the original site »


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »