$12B wiped off Samsung’s market value as Galaxy estimates drop and Apple competition heats up
Samsung appears to be experiencing a taste of those stock market jitters that seems to defy logic, with it’s market value reduced by $12b – 6 percent of its value – in a single day’s trading, reports Reuters.
The share slide of more than 6 percent comes after it recently introduced two stripped-down versions of the S4, fanning worries that profit margins for its mobile business will suffer. It also follows a report that arch-rival Apple will begin a trade-in program for iPhones.
The new stripped-down S4 models will help it widen its lead in the global smartphone market and fend off Chinese competitors, but some fear that the South Korean tech giant is trading in profits for volume …
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