, this afternoon, where Samsung continues to bring key witnesses to the stand to rest its case.
First off—Samsung called financial expert Michael Wagner to the stand this morning to discuss financials.
Apple, based in Cupertino, California, claims it is owed at least $2.5 billion in damages and is also seeking to make permanent a preliminary ban it won on US sales of a Samsung tablet, and extend the ban to Samsung smartphones.
According to Reuters, Wagner stated to the court today that Apple overstated the amount of profit Samsung earns for its mobile products in the US Instead of the 35.5 percent Apple alleged, according to Wagner, Samsungs US margin is only 12 percent (or $519 million).
Apple finished its case last week by asserting Samsung owes $2.5 billion to $2.7 billion in damages for alleged slavish copying.
And if Apple wins the case, well, they’ve turned that warning shot we mentioned, above, into a 2.5 billion dollar fusillade.
Samsung case, leaving one of Apple’s lawyers, Bill Lee, to point out that Williams had earned $1 million in each of the past two years testifying in lawsuits, many of them in opposition to Apple.
Samsung claimed Apple copied its patents that cover emailing pictures from photo albums, the act of playing music from the device, and more.
Apple’s most recent offer to Samsung is that it could continue to do business in the US market only by coughing up $30 per smartphone and $40 per tablet to Apple for its patents; a heavy toll, surely enough to knock Samsung permanently from its perch as the number one cell phone company in the US.
Vincent OBrien, a damages expert, told the court that for two of Samsungs patents, Apple should owe $22.8 million to Samsung.
Another witness, David Teece, further asserted Apple should owe another $290 million to $399 million for two Samsung patents.
That is a grand total of $422 million, which Apple could eventually be ordered to pay out if found guilty.
Steve Branson is a business journalist based in London, UK. Steve has a passion for financial markets and breaking news stories and loves writing about business news, stock market, and economic opinions that matters most to its audience. Steve spends a lot of time discovering and researching latest financial markets and industry news stories in order to make sure the latest and greatest stories are brought to you first on BigBoardNews.com.