Samsung versus Apple: The Grudge Match Continues
Just in time for holiday sales, an Australia court gives Samsung a victory against Apple (NASDAQ:AAPL). The court axed the ban on Galaxy tablet sales, giving Samsung an early Christmas present. This is just one of 30 ongoing suits, across 10 countries, between Samsung and Apple.
This win may have cushioned the impact of Samsung’s loss in Paris, where they had attempted to block iPhone 4S sales in France. The suit was summarily rejected the previous day with penalty legal costs to be paid to Apple.
Just last week, Samsung was smelling roses when a U.S. court denied Apple’s attempt to block Galaxy phones and tablets sales in the United States. Apple is appealing that ruling.
What’s at stake here? Market share in tablets and smartphones. While Samsung is the world’s no 1 smartphone maker, Apple has complete dominance in the tablet market. This is a continual grudge match for consumer dominance between the two companies. After all, Samsung thinks Galaxy is the only tablet that really matches iPad’s functionality and quality.
Here’s how Apple shares closed the week:
Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $393.62, up $2.96, or 0.76%. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 10,585,366 shares versus a 3-month average volume of 19,035,800 shares. The company’s trailing P/E is 14.22, while trailing earnings are $27.68 per share.