Breaking Finance News

Apple ITC Ban Overturned by Obama Administration

On Saturday, U.S. Trade Representative Michael Froman, acting on behalf of the Obama Administration, overturned the ITC ban on the sale or import of Apple (NASDAQ: AAPL)’s iPhone 4, iPhone 3GS, and the iPad 2 3G sold by AT&T (NYSE: T).

When the ruling was published in June, it was clear win for Samsung and although the iPhone 3GS wasn’t a large revenue driver, the iPhone 4 was still seen as a major seller.

The ITC found that Apple violated a patent that allows devices to, “transmit multiple services simultaneously through 3G wireless technology,” according to Reuters.

This patent, known as a standard essential patent, covers technology that has to be used to comply with industry standards. Froman said that the ITC should examine the ramifications on public interest before ruling on such disputes.

The Obama Administration believes that violation of such patents should come with monetary penalties instead of a ban on sales or import.

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Disclosure: At the time of this writing, the author was long Apple.

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