Samsung loses $1B patent verdict to Apple - Top Turkeys 2012

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Apple (NASDAQ:AAPL) sued Samsung Electronics in April 2011 in U.S. federal court for patent infringement, claiming that some of Samsung's smartphones and its GalaxyTab tablets infringe on Apple's patents and trademarks. Samsung countersued Apple and their patent battle eventually expanded to include multiple continents.

The companies barreled toward a trial in U.S. District Court in San Jose, Calif., which began July 31. Apple asserted that Samsung infringed on both its design patents for the look of the iPhone as well as patents for various features and functions, such as the way users scroll through screens. Samsung argued that Apple infringed on its wireless standards patents. As the trial opened Apple's lawyers argued that Samsung copied its iPhone and Samsung's lawyers argued Apple could not claim a "monopoly on a rectangle." 

After just three days of deliberation, a jury awarded Apple a $1.05 billion victory against Samsung in the companies' patent-infringement battle.

Samsung said it would appeal the ruling. Meanwhile, Apple's request to ban the U.S. sale of eight Samsung Electronics devices will have to wait until December. However, shortly after the verdict Apple CEO Tim Cook and Google CEO Larry Page reportedly held talks on a range of patent issues, including the mobile patent disputes between their two companies. While the verdict did little to dent Samsung's third-quarter profit, and Samsung said it does not plan to settle with Apple, the verdict was a major blow for Samsung. The South Korean giant gambled by going to trial and it lost in a very public way.