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Apple was just slapped with a huge fine

by Danny Zepeda | July 27, 2017July 27, 2017 6:30 am PDT

Apple is the most valuable company in the world with billions in the bank, but that sum is about to get a little lighter. A U.S. judge hit the company with a hefty $506 million fine for damages in an infringement lawsuit.

The lawsuit Apple is embroiled in is with the Wisconsin Alumni Research Foundation. It dates back to 2015 when a judge awarded the Wisconsin Foundation $234 million after Apple was found to have infringed upon patents it owned. The judge doubled the fine against Apple to $506 million due to it continuing to use the patent until it expired in 2016.

The patent in question stems from a “predictor circuit” that speeds up processing by prediction user instructions. The University of Wisconsin-Madison acquired the rights to the patent back in 1998.

Apple didn’t respond to a request for comment by CNET, but it is expected to file an appeal of the ruling.

The ruling, fine or appeal won’t affect customers at all. The sum is a huge amount by any rational standard, but to put into context just how much money Apple has, it reported $52.9 billion in revenue last quarter alone. Even if Apple does pay the full amount, and it doesn’t plan on it, that would be less than 0.1-percent of its revenue last quarter.

CNET

Danny Zepeda

Born and raised in Southern California, Danny grew up on a steady diet Pixar, Star Wars and Steven Spielberg movies. Unbeknownst to him, this was...

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