Apple, Samsung CEOs Agree to Settlement Talks18 Apr, 2012 By: Erik Gruenwedel
The chief executives of consumer technology giants Apple and Samsung reportedly have agreed to meet in San Francisco to settle ongoing litigation regarding allegations of technology infringements with competing cell phone and tablet computers being played out in nine countries.
The voluntary meeting slated over the next 90 days between Apple’s Tim Cook and Samsung’s Gee-Sung Choi will be moderated by U.S. Magistrate Judge Joseph Spero, according to a report on FossPatents.com. The so-called “alternative dispute resolution” effort was ordered by U.S. District Court Judge Lucy Koh, who is overseeing two Apple v. Samsung lawsuits in Northern California. The first trial is slated to begin in July.
In a joint statement to the court, Apple and Samsung said their respective CEOs were open to the talks.
“At Apple, the chief executive officer and general counsel are the appropriate decision-makers, and they will represent Apple during the upcoming settlement discussions. At Samsung, the chief executive officer and general counsel are also the appropriate decision-makers, and they will represent Samsung during these settlement discussions,” according to the statement.
Interestingly, both companies do about $8 billion annually in business with each other involving parts, software and related technologies included in competing CE products. It is those cross-over ties and alleged misconduct that are at the heart of much of the litigation.
The No. 1 (Samsung’s Galaxy S) and 2 (iPhone) smartphone/tablet sellers are coming off record quarters, with Samsung reporting operating profit of $5 billion and Apple posting $13 billion in operating profit on record revenue of $46 billion.
Apple reports second quarter fiscal results April 24.