Samsung shares drop $12 billion after Apple's victory

  • Samsung Electronics shares slumped 7.5 percent on Monday, wiping more than $12 billion off the South Korean giant's market value.

    Shares in the world's biggest technology firm by revenue plummeted by its biggest daily percentage drop in nearly four years to $1,031, before closing at just over $1,039.

    A total of 1.27 million Samsung shares changed hands, the stock's biggest daily volume since October 2008.

    The drop comes after Samsung was ordered to pay $1.05 billion in damages after a California jury found it had copied features of Apple’s iPhone and iPad.

    Apple will now seek import bans on several of its rival's products. The Mesmerize, Galaxy Prevail and Infuse are among the handsets found to have infringed Apple's patents

    Apple intends to seek a sales injunction at a follow-up hearing next month.