Despite an international ban to the contrary, US President Barack Obama has decided to veto a ban on certain Apple products in the United States stemming from the drawn out patent battle between the California-based company and Samsung. This has had a very negative effect on Samsung's value internationally, with their share values dropping from $169.3 Billion to $168.5 Billion, a loss of over $1 Billion.
This is all as a result of an International Trade Commission imposed ban on US imports of certain Apple products, and the vetoing of this ruling by the White House over the weekend. This ruling originally came down in June of this year after Samsung won a patent battle with Apple ruling that certain products, the iPhone 4 for example, violated patents held by Samsung. The veto of this ruling was the first of its kind by a US President since 1987.
What could further complicate this mess is the fact a ruling is expected soon on whether or not Samsung had violated patents held by Apple, resulting in potential US import bans on certain older models of Samsung devices like the Samsung Galaxy SII and the Samsung Galaxy Tab 10.1. This decision is expected to be made later this week.
What does this mean for consumers? Not surprisingly, this political and commercial theatre will equate to just about nothing in terms of value for consumers. At the end of the day, companies like Samsung and Apple likely won't change their practices much in the wake of the veto. In the grand scheme of things, this could have a negative effects between the US government and Samsung and their home country of South Korea, who won't look fondly on the US vetoing a major victory for Samsung with just the stroke of a pen. As always, the big winner in this will be lawyers, who are certain to be promised plenty of paperwork as these decisions are appealed and analyzed.