17:12:46 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Apple CDR (CAD Hedged)
Symbol AAPL
Shares Issued 7,600,000
Close 2023-12-27 C$ 28.71
Market Cap C$ 218,196,000
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Globe/wire say Apple gets reprieve on watch imports

2023-12-28 06:38 ET - In the News

The Globe and Mail reports in its Thursday edition that Apple can for now resume sales of its flagship smartwatches, after a U.S. Appeals Court on Wednesday paused a government commission's import ban on the devices imposed in a patent dispute over its medical monitoring technology. A Reuters dispatch to The Globe says the tech giant had filed an emergency request asking the U.S. Court of Appeals for the Federal Circuit to halt an order from the U.S. International Trade Commission (ITC), which had ruled that Apple had infringed on Irvine, Calif., company Masimo Corp.'s patents. A final decision could cost either company millions of dollars and potentially force a settlement or some kind of technological workaround by Apple, analysts said. Ultimately, though, any financial hit for Apple is likely to be dwarfed by the bad publicity the lawsuit is generating. The ITC barred imports and sales of Apple Watches with technology for reading blood-oxygen levels. Starting with its Series 6 model in 2020, Apple included a pulse oximeter feature in its smartwatches. Masimo has accused Apple of hiring away its employees, stealing its pulse oximetry technology and incorporating it into Apple Watches. Apple has countersued.

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