UPDATE 2 9:30 p.m.:: The jury's now thanked for its service and has been excused. The final amount rewarded to Apple is $1,049,343,540. Samsung says it will seek to overturn the decision.

Unsurprisingly, Apple thanked the jury too.

For more on what the ruling means for both companies, check out our in-depth explainer here.

UPDATE: The jury has ruled that Samsung did violate some Apple patents.

Though the full ruling has yet to be announced, the Verge reports that Samsung infringe on Apple patents relating to multitouch features and the "bounceback" scroll.

The jury also found that Samsung willfully infringed on five Apple patents (381, 915, 163, D667 and D305).

Samsung owes Apple over $1 billion in damages, according to the verdict.

Apple was ordered to pay no damages to Samsung.

After the reading, Judge Koh noted a problem with the verdict and ordered the jury to review and make changes. In its live blog, CNET details the inconsistencies found in the verdict:

Galaxy Tab 10.1 4G LTE [..] was accused of direct infringement and inducement of D889 patent, and dilution and infringement of iPad iPad 2 trade dress that the jury's response was no. But $219k of damages was awarded. And Intercept, found no infrginement of 915 patent, but found inducement of 915 patent and awarded $2.2M in damages

While the issues were still being reviewed, both companies issued statements about the verdict.

Samsung's release, per The Verge, read in part:

Today's verdict should not be viewed as a win for Apple, but as a loss for the American consumer. It will lead to fewer choices, less innovation, and potentially higher prices. It is unfortunate that patent law can be manipulated to give one company a monopoly over rectangles with rounded corners, or technology that is being improved every day by Samsung and other companies.

Apple's statement, sent to the New York Times:

The mountain of evidence presented during the trail showed that Samsung’s copying went far deeper than even we knew. The lawsuits between Apple and Samsung were about much more than patents or money. They were about values. At Apple, we value originality and innovation and pour our lives into making the best products on earth. We make these products to delight our customers, not for our competitors to flagrantly copy. We applaud the court for finding Samsung’s behavior willful and for sending a loud and clear message that stealing isn’t right.

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The jury in the closely watched Apple vs. Samsung patents trial has reportedly reached a verdict.

According to AllThingsD, their decision will be announced this afternoon. Live updates from the reading can be found at The Verge.

Many expressed surprise on Friday, given the speed with which the verdict was reached. The jurors began deliberations on Wednesday, after receiving a staggering 100 pages of instructions from U.S. District Judge Lucy Koh on Tuesday. According to Reuters, the nine jurors were also required to answer dozens of questions throughout 20 pages of forms.

The trial between the two tech giants kicked off on July 31. Apple claimed that some Samsung gadgets had copied design elements of the iPhone and iPad; Samsung countered that Apple had infringed on some of Samsung's patents. Apple requested that Samsung pay damages of $2.5 billion, while Samsung asked for $422 million for Apple's alleged violations.

No matter the outcome for either side, the implications from this verdict could be felt by many players in the consumer tech industry, not least of which will be handset makers whose devices are powered by Google's Android operating system.

If the jury favors Samsung? "Expect to see an awful lot of Apple knockoffs without fear of retribution,” Gartner analyst Michael Gartenberg told the New York Times. And if Apple emerges the victor? "All of [Apple's] competitors will have to make bigger circles around certain design features," Recon Analytics analyst Roger Entner told CNET. "It gives it a lot more standing to Apple and anybody else with distinct features."

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