ZDNet Korea reported
today that JK Shin, the head of Samsung's
(OTCMKTS:SSNLF) mobile business, and Tim Cook, CEO of Apple
(NASDAQ:AAPL), met last week in the US to explore the option of settling the ongoing legal battle between the companies. The two were unable to reach any kind of agreement over the case, which concerns Samsung's alleged infringement of several Apple patents related to the company's iPhone. Neither company has confirmed that the meeting took place.
The alleged meeting was said to be the direct result of mitigation orders handed down by the federal court in San Jose, California, that is overseeing the patent-infringement litigation. Those orders stipulated that any out-of-court settlement would have to be made on or before February 19. Now, the court will have to decide on the case, which is set to begin on March 31. If Samsung is on the losing side, it could pay damages as high as $930 million.
Tim Cook in court. Source: Digital Trends
A Samsung spokesperson has said, "We can't confirm whether the two CEOs met, of if they did, what the results were."
This would not be the first time executives from Apple and Samsung have met to try and settle the case: In May 2012, Tim Cook and Samsung CEO Geesung Choi met to discuss the patent feud, but the meeting fell through when Choi refused to accept Apple's demand for patent royalties. The companies met again last July to explore an agreement, but talks failed to progress.
Follow me on Twitter: @JoshWolonick and @Minyanville
No positions in stocks mentioned.