An appeals court Thursday reversed the ban on certain Samsung devices, including its Galaxy Nexus smartphone. The U.S. Court of Appeals for the Federal Circuit ruled the California district court overstepped its bounds and "abused its discretion in entering an injunction."
Samsung, in addition to being a competitor to Apple in hardware, is ironically an Apple supplier, selling the Cupertino, Calif.-based technology giant parts for its iPhone's and iPad's, including semiconductors. A Samsung official recently told a local South Korean newspaper it would cut its semiconductor investment for 2013, as conditions continue to worsen in the industry.
Apple shares are higher in Friday trading, up 0.49% to $631.16.
Interested in more on Apple? See TheStreet Ratings' report card for this stock.-- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull