Samsung to Pay Swatch $11.6 Million for Trademark Infringement
The High Court in London has ordered Samsung to pay Swatch Group $11.6 million for placing applications in the Galaxy Store that featured digital copies of luxury brand designs. The court found that 26 virtual watch faces, which copied models from Breguet, Blancpain, Omega, Longines, and Tissot, caused harm to the Swiss company. The compensation amount is significantly lower than Swatch's initial demand of $170 million but exceeds Samsung's offer of $300. The judge compared the placement of the applications to displaying counterfeit goods in a supermarket, assigning $10 million for the public demonstration of the trademarks. Responsibility was placed on Samsung, as the company controlled content moderation in the Galaxy Store. The applications were downloaded approximately 160,000 times in the UK and EU from October 2015 to February 2019. Samsung is reviewing the court's decision and considering an appeal. In the U.S., a separate lawsuit by Swatch against Samsung is ongoing, which has been paused pending a final verdict in the UK.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

21Shares: Solana Advances Inflation Reduction and Burn Proposal, Staking Rewards May Be Halved

Strategy raises 2.0065 billion USD, holds 1.59 billion USD cash without Bitcoin purchase

Strive Acquires 1,110 Bitcoins, Increasing Holdings to 21,356

Ethereum EIP-839 Introduces Staking Changes to Protect Against Quantum Computers

DeepSeek's New Funding Round Valuation Reaches $74 Billion

Arga Labs Secures $10 Million Seed Funding Led by General Catalyst

Polymarket Pays $20 to $100 for Promotional Posts by Brazilian Players

Ethereum Researchers Propose Overhaul of Staking Entry to Support Quantum Resistance

$120 Million Lost Overnight! The Most Stable Giant in Crypto Crashes in South America

Oil Exports from Russia Drop to 3.46 Million Barrels per Day

State Tax Service Introduces Updated Concept of Electronic Cabinet for Individual Entrepreneurs

New License Issued After Four Years: Japan's Crypto Market is Restructuring

Saitama Founder’s Extradition Case Rejected, May Be Extradited to the U.S. for Trial

Ripple Dollar Issuance Reaches $2 Billion, Close to $1 Billion on XRP Ledger

Drop in Fuel Consumption: In Eight Provinces, the Decline Exceeded 10%

Stablecoins Enter Daily AI Agency Commerce: Crypto Payment Card Monthly Spending Exceeds $750 Million

Gemini Partners with Apex to Expand Its Crypto Predictive Markets to American Brokers

Swvl Raises $13 Million Led by Coefficient Backed by the Sawiris Family

50-60 Vessels Stuck on the Danube Awaiting Passage to Ukrainian Ports

Runable Completes $21 Million Series A Funding Led by Nexus Venture Partners

Avalanche Treasury Approves $10 Million Share Buyback Despite $44.65 Million Loss

EBA Calls for Mechanism to Refund Excise Tax on Destroyed Goods

Alibaba Completes HK$80 Billion New Share Placement for AI and Cloud Infrastructure

Coinbase Partners with Better to Launch Token-Backed Mortgage Product

Robinhood Chain Records $85.1 Million in RWA Trading Volume on August 25

The dollar strengthens above $1,500: why the government raised the ceiling and what the market is watching now

Keenable Completes $26 Million Seed Round Financing

Lviv to Restore Railway Ticket Offices and Open a Bookstore

Bitdeer Reports 1190 BTC Mined in July, Up 322% Year-on-Year







