Apple Inc. has recently won another patent lawsuit against Samsung in San Jose, Calif. on May 2.
After hearing nearly four weeks of evidence in the second trial of the companies' patent case in the U.S, the jury has found Samsung had infringed on two of the four Apple patents being contested.
The jury also said Apple had infringed on one of two patents of the Korean electronics giant. The second U.S. trial revolved around whether Samsung Electronics had used features in Google's Android OS that reportedly copied Apple's technology for iPhone.
The recent verdict has set the premise for both Apple and Samsing to seek a court order to block the sale of some older devices in the U.S.
Susan Koh Ross, a lawyer in Los Angeles' Mitchell Silberberg and Knupp who has been following the cases, said Apple and Samsung are both looking for a "knockout punch," but they don't seem to find it so they keep on "punching."
Apple and Samsung, two of the top handset makers in the world, have already spent hundreds of millions of dollars in legal fees on court battles in four continents for supremacy in a $338.2 billion market according to Bloomberg data.
Bloomberg added Samsung holds 31 percent of smartphone industry's revenue while Apple's share has shrunk to 15 percent. The touch-screen user interface popularized by Apple's iPhone has become a common feature with both Samsung and Lenovo manufacturing cheaper options to the premium phone.
While Apple's iPhone has changed the way consumers look and use smartphones, the company has found it challenging to fend off low-cost alternatives, which it sees as "copycats."
Apple filed its first patent suit related to smartphones against HTC Corp. more than 4 years ago.
Reports noted despite the $120 million, many think Apple's recent victory is only "small change" when viewed from the company's perspective.
Brian Love, assistant professor at Santa Clara University School of Law, said the amount of $120 million in damages "probably does not surpass" the amount Apple has spent in litigation fees.
Since Apple's release of its Q2 FY 2014 earnings report, the company's stock is now trading close to $600 per share, which makes the company the world's most valuable firm at the top of the tech stock that is most desirable.
Apple has a market capitalization of $510 billion, beating search giant Google's $359 million. Analysts have speculated whether Apple's stock will ever reach the $700 mark soon.
But it is still up to the new product releases of the company in 2014 as investors are growing anxious of the rising Android market share in both smartphones and tablets.