The share price of Samsung Electronics dropped nearly 7.5% in trading
Monday as investors had their first opportunity to react to the more
than $1 billion decision against the Korean electronics giant by a
California jury for infringing on Apple patents.
Samsung dropped 6.3% at
the open of South Korea's Kospi index and finished the day down 7.45%,
after dropping as much as 7.7%. The tumble erased about $12 billion from
the company's market value Monday.
Samsung is planning to
appeal Friday's decision
of a U.S. federal jury which awarded Apple $1.05 billion for copying
the look and feel of iPhones and iPad design. The jury rejected
Samsung's counterclaims against Apple.
A senior Samsung
executive told the Korea Times the decision was "absolutely the worst
scenario for us" as he was heading into an emergency meeting at the
company's Seoul headquarters on Sunday.
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