IMPORT BAN: A U.S. trade agency on Tuesday issued a ban on imports of Apple's iPhone 4 and a variant of the iPad 2 after finding the devices violate a patent held by South Korean rival Samsung Electronics.
MAY BE INVALIDATED: Because the devices are assembled in China, the import ban would end Apple's ability to sell them in the U.S. But President Barack Obama has 60 days to invalidate the order from the U.S. International Trade Commission. Obama is against import bans on the basis of the type of patent at issue in the Samsung case.
APPEAL COMING: Apple Inc. said it was "disappointed" with the ruling and will appeal. Samsung and Apple are engaged in a global legal battle over their smartphones.
- Consumer Discretionary
- Handheld & Connected Devices
- President Barack Obama
- Samsung Electronics