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Thursday, August 30, 2012

Samsung paid $1bn to Apple in coins - A hoax?


In spite of advancement in technology, we believe absolutely anything posted on facebook. On hindsight, I believed it the moment I saw it, but being a regular cynic, I could not take it as just funny news.

“Samsung paid Apple its $1bn fine by sending more than 30 trucks to Apple's headquarters loaded with nickels [5-cent pieces]".

I was reminded of the day when a friend told me that Kingfisher had plans to replace seats with hammocks in their luxury line of flights. I believed him at first. But then, he tried his luck again by elaborating a little more. Kingfisher plans to install artificial coconut trees to keep the hammocks in place. A bit over the top,even for Vijay Mallya.

Coming back to our news, a clever hoax meant for the casual Facebook visitors.

So why is it a hoax?

First of all, the $1bn is just the jury’s verdict. The judge’s decision hasn’t been announced yet.  So Samsung need not pay $1bn yet. In fact, they should not pay it until judges’ decision is announced.


Number two, every private entity is entitled to decide the acceptable denomination/type of payment for a transaction. For example when you write an exam, they ask us to pay in Demand drafts; you can’t pay them with hard cash. Even if Samsung takes all the effort to pay up the money in coins, apple can neatly say, ‘Come back another day with a cheque.’

Well now you know why being a cynic is good for you…

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