Consumer electronics firm Apple became the most valuable company in the US in terms of market capitalisation last night, on the day that it wielded its power by preventing rival electricals specialist Samsung from selling the Galaxy tablet in the EU.
At the close of trading on Wednesday, Apple was more valuable than oil giant Exxon for the first time in its history, having become the second largest business earlier this year when it surpassed software provider Microsoft.
Yesterday was a huge day for the iPad and iPhone manufacturer, as it was also granted a temporary injunction stopping Samsung from selling its Galaxy Tab 10.1 in the EU, with Apple claiming the product infringes its copyright.
A court in Germany deemed that only the Netherlands in the EU can sell the Galaxy product, the launch of which has also been delayed in Australia due to similar issues.
The Samsung Tab 10.1 was only launched at the start of this week, and Wi-fi versions of the tablet had been made available exclusively at Dixons Retail’s stores in the UK.
Prior to the injunction the 3G version was set to be unveiled at a number of other retailers and operators - including Vodafone, Carphone Warehouse and Tesco - later this month.
In a statement released yesterday, Samsung said: “Samsung is disappointed with the court’s decision and we intend to act immediately to defend our intellectual property rights through the ongoing legal proceedings in Germany and will continue to actively defend these rights throughout the world.
“We will take all necessary measures to ensure Samsung’s innovative mobile communications devices are available to customers in Europe and around the world.
“This decision by the court in Germany in no way influences other legal proceedings filed with the courts in Europe and elsewhere.”