Samsung, obviously, is left licking its wounds, with speculation mounting about the long-term impact of the jury's decision. Canaccord Genuity's Walkley notes that a hearing has been set for Sept. 20 to consider a ban on U.S. sales of Samsung devices, which includes a number of smartphones.

"While a ban would likely increase Apple's leading smartphone share in the U.S. market, we believe this verdict could lead to Samsung also delaying near-term product launches as it attempts to design around Apple's patents," he wrote. "We also believe other Android OEMs (Original Equipment Manufacturers) such as HTC, Sony ( SNE) and LG, will review this patent verdict and potentially alter and delay planned Android smartphones and tablets."

Neither Sony nor LG, has yet responded to TheStreet's request for comment on this story. Sony shares slipped 0.6% to close at $11.64 on Monday.

"We believe the Apple-Samsung patent verdict out Friday night after the close is a negative for the Android ecosystem as it likely puts more pressure on Android OEMs to clearly differentiate devices and it suggests the courts may be willing to tightly enforce software and design patents in the future," added J.P. Morgan's Doug Anmuth.

Samsung, for its part, struck a defiant tone following the court's verdict, vowing to continue its patent struggles with Apple. "This is not the final word in this case or in battles being waged in courts and tribunals around the world, some of which have already rejected many of Apple's claims," explained a spokeswoman, in an email to TheStreet. "Samsung will continue to innovate and offer choices for the consumer."

Friday's result, of course, could also have major implications for Google ( GOOG), the creator of the Android operating system that's widely used on Samsung devices.

Charlie Wolf, an analyst at Needham & Co., noted that three of Apple's iPhone and iPad software patents were deemed valid.

"The bad news for Android licensees is that the three patents represent but a handful of the patents in Apple's arsenal," he wrote. "We anticipate Apple will assert many of these reportedly even more powerful patents in future cases against Android licensees."

"Google will be forced to design workarounds of the violated software patents, which was the intent of Apple's lawsuit, not the monetary award," he added. "These workarounds are likely to materially degrade the Android user experience relative to the user experience on Apple's iOS operating system."

Google, however, shrugged off talk of negative impact on Android. "Most of these patent claims don't relate to the core Android operating system," explained a spokesman, in an email to TheStreet. "The mobile industry is moving fast and all players - including newcomers - are building upon ideas that have been around for decades. We will continue working with our partners to give consumers innovative and affordable products."

Shares of Google closed down 1.39% at $669.22 on Monday.

-- Written by James Rogers in New York.

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