Samsung Strikes 'Major Victory' In Patent Infringement Suit Against Apple

A U.S. appeals court ruled on Friday to overturn a prior decision in a patent dispute involving Apple Inc. AAPL and Samsung Electronics Co Ltd.

According to Apple Insider, the appeals court overturned a $120 million jury verdict against Samsung, marking a "major victory" for the South Korean firm. A jury initially decided in May of 2014 that both companies were infringing on each others' patents, but Samsung was still forced to pay $119.6 million in damages to Apple.

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The two companies argued in front of the appeals court in January with the majority of the discussion surrounding Apple's data detectors patent.

Apple was originally seeking more than $2 billion in damages and alleged Samsung infringed on five of its patents, including swipe-to-text, universal search and data detectors.

Reuters also noted that Friday's decision was issued by a unanimous three-judge panel of the Federal Circuit.

Shares of Apple were trading higher by 0.42 percent at $97.17 early Friday afternoon.