Samsung Steals From Apple: Is Samsung Stealing from Apple with its new Wallet App?

Samsung Steals From Apple: At this point, it is no surprise to anybody when they read a story about Samsung and Apple Inc. (NASDAQ:AAPL) battling in the courtroom. From one side of the world to the next, the two tech companies are locked in patent related battles.

With this in mind, you would think that both companies would tread softly in terms of the new products and applications they release. However, this does not appear to be the case. Samsung recently released its Wallet app, which is quite similar to the Apple Inc. (NASDAQ:AAPL) Passbook app in a variety of ways.

Apple is actually the smart money’s second favorite publicly traded company (see why it’s important to pay attention to hedge fund activity).

The Verge recently took a closer look at the app, noting that there are many similarities between the two.

Here is some information from the article to get us started:

“Samsung took the wraps off of its new Samsung Wallet app during a developer conference at Mobile World Congress on Wednesday. The Wallet app is designed to let users store things such as event tickets, boarding passes, membership cards, and coupons in one central location, much in the same fashion as Apple’s Passbook app for iOS. In addition, Wallet offers time and location-based push notifications (again, just like Passbook) to alert users as to when they are able to use the passes stored in their account, and it provides real-time updates for membership points and boarding pass changes. Users can open their passes to display bar codes that can be scanned at payment terminals. Third-party developers will be able to integrate with Wallet to easily let users add passes and tickets to the app.”

While Samsung is sure to claim that there are many differences between the two apps, it is hard to ignore the fact that Apple Inc. (NASDAQ:AAPL) was first to the punch. There is no denying that Samsung’s new Wallet app has taken a few pages from the Apple book during the development stage.

The more you learn about the Samsung app the more you will begin to wonder what the company was thinking. A side by side comparison shows that Samsung had to be basing its app off of Passbook by Apple. In fact, even the icon that Samsung used for the app is strikingly similar to the one created by Apple.

Who knows what type of drama this is going to bring. We are staying on top of this story, so check back often.

Check back here for more updates on Samsung Steals From Apple.

DISCLOSURE: I have no positions in any stock mentioned.

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