Genitics is showing strength. This is interpreted as being influenced by the analysis that Samsung Galaxy Watch will gain a windfall profit following news that Apple Watch sales have been halted in the U.S. due to a patent dispute.
As of 1:25 PM on the 19th, Genitics is trading at 1,713 KRW, up 5.94% from the previous day.
According to foreign media, Apple announced that it will stop online sales of the Apple Watch Series 9 and Apple Watch Ultra 2 starting from the 21st. Devices distributed to frontline retail stores will also not be sold from Christmas Eve. This is a measure following the October ruling by the U.S. International Trade Commission (ITC).
The ITC sided with Masimo, a medical technology company, in a patent lawsuit filed in 2021. Masimo holds a patent for measuring blood oxygen saturation, and claims that the oxygen saturation sensor applied in Apple Watches released since 2020 copied Masimo’s technology.
Accordingly, the industry views that obstacles have arisen for sales of Apple’s latest devices, creating an opportunity for Samsung Electronics, a competitor in the smartwatch market. Samsung Electronics emphasizes healthcare functions on its latest smartwatches, including the Galaxy Watch 6, offering measurements of oxygen saturation, blood pressure, heart rate, body composition, sleep, menstrual cycle, and electrocardiogram.
Meanwhile, Genitics is a fabless company that supplies specialized ICs for various wearable devices produced by global IT companies such as Samsung Electronics, China’s Xiaomi, and the U.S.’s Fitbit. Recently, a new touch IC was installed in all models of the Galaxy Watch 6.
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