Sunday 23 July 2017

Jeremy Wagstaff: Arch-rival Samsung rebounds as Apple ‘rests on laurels’

A man presents the new Samsung Galaxy Note II smartphone during the Samsung Mobile Unpacked event in Berlin
A man presents the new Samsung Galaxy Note II smartphone during the Samsung Mobile Unpacked event in Berlin

WHAT a difference three months can make.

At the end of August, Apple seemed on top of the world. Fresh off a resounding $1.05 billion US legal victory over arch-foe Samsung, the company was gearing up to launch the fifth iteration of its iconic iPhone. Just a week prior, its market value had surpassed Microsoft’s and it became the most valuable technology company in history.

That was then. Since winning a landmark US patent infringement case in August, its stock has dived 18pc, wiping $108 billion from its value. But the shares of defeated party Samsung have surged, rising 16pc.

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