SEOUL, South Korea: Samsung Electronics Co. said Thursday it will fight Apple’s move to stop US sales of its new Galaxy phone in the latest flare-up of an intellectual property battle between the world’s top smartphone makers.
Samsung said it will vigorously oppose Apple’s request for a court to ban sales of the Galaxy S III smartphone and still plans to go ahead with the device’s scheduled release in the US on June 21.
The South Korean company said in a statement that it will “demonstrate to the court that the Galaxy S III is innovative and distinctive.”
On Tuesday, Apple Inc. asked a US district court to temporarily ban sales of the S III smartphone before its launch in the United States. The maker of the iPhone accused Samsung of infringing two Apple patents.
The request, if accepted by the US District Court for Northern California, would deal a blow to Samsung’s attempt to get a headstart on sales of Apple’s next iPhone.
The S III smartphone went on sale in Europe on May 29 and will be offered by around 300 mobile carriers in Asia and North America later this month.
The early launch puts Samsung in a favorable position to take a bigger chunk of the lucrative smartphone market. While Apple is keeping mum on its annual iPhone upgrade, many analysts expect the new iPhone to go on sale as early as July.
Samsung has become the biggest threat to Apple’s clout in the mobile market as its Galaxy series of smartphones won popularity among consumers seeking an Android-powered device.
Most market research firms say Samsung overtook Apple in smartphone shipments for the first time during the first three months of this year.
Samsung and Apple have been embroiled in bitter patent lawsuits in North America, Europe and Asia since Apple accused Samsung of copying its iPhone in April 2011.
Chief executives of the two companies met in San Francisco last month after a court instructed them to negotiate, but the talks didn’t produce a settlement.
Amid the legal battles, the two companies continue to do business with each other.
Samsung counts Apple as among its largest buyers of chips and display screens while Apple relies on Samsung for mobile components.
Samsung fights Apple move to block Galaxy sales
Samsung fights Apple move to block Galaxy sales
The Family Office to host global investment summit in Saudi Arabia
RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.
The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.
The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.
Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.
Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.
The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.
The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.
With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.
The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.
