By Daniel Hunter

Apple has been ordered to pay $533m (£344m) for patent infringements involving some of the tech used on the iTunes store.

Apple must pay the figure to Smartflash, a British Virgin Islands-based firm that owns and licenses tech-related patents but does not make products itself.

Smartflash was hoping for a bigger payout but said it was "happy" with the verdict.

Apple said it plans to appeal the decision.

The tech giant said in a statement: "We refused to pay off this company for the ideas our employees spent years innovating and unfortunately we have been left with no choice but to take this fight up through the court system."

Smartflash had calculated a payout worth $852m based on the number of iPhones, iPads and Macs sold. But Apple argued that the patents were either invalid or worth $5m.