Over the weekend, the Obama administration vetoed the US International Trade Commission's import ban pertaining to older generation iPhones and iPads. The move marked the first time since the 80s that a U.S. President vetoed an ITC ruling.
While Apple is of course thrilled with the Obama administration stepping up to protect FRAND rights, the same can't be said for Samsung, or its investors. In the wake of the ITC veto, Samsung's market value dropped by over US$1 billion.
Also expressing concern regarding the veto was the South Korean government itself, which on Monday issued a statement exclaiming that the veto will have a negative impact on patent property rights.
Reuters
