Apple's victory bites Samsung

Shanghai Daily, August 28, 2012

An employee holds up a Samsung Electronics' Galaxy Tab tablet computer (left) and an Apple Inc's iPad at a store in Seoul Monday. [Photo/Shanghai Daily]

Samsung shares fell more than 7 percent in Korean trading Monday, wiping US$12 billion off the South Korean giant's market value, as Apple's sweeping legal victory in their US patent battle raised concerns about its smartphone business - its biggest cash cow. Apple shares rose 1.8 percent in morning US trading Monday, boosting its market capitalization, already the highest in the world, by US$11 billion to US$633 billion.

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