Reuters: Samsung Electronics Loses $12 Billion Market Value on Smartphone Worries

by Staff Report 0

Reuters reports that Samsung Electronics Co. lost $12 billion in market value, struck by brokerage degrades that have emphasized concerns about decreasing sales of its flagship Galaxy S4 smartphone. The share slip of over 6 percent occurs after it recently launched two stripped-down versions of the S4, increasing concerns that profits for its mobile business will be affected.

samsung_galaxys4_ss_sqReuters reports that Samsung Electronics Co. lost $12 billion in market value, struck by brokerage degrades that have emphasized concerns about decreasing sales of its flagship Galaxy S4 smartphone. The share slip of over 6 percent occurs after it recently launched two stripped-down versions of the S4, increasing concerns that profits for its mobile business will be affected. The new stripped-down S4 models is intended to help it expand its lead in the world smartphone market and ward off Chinese competitors, however some worry that the company is trading in profits for volume. Read more

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