Monday, August 27, 2012

Why Samsung stock prices down 8/27/2012

Why Samsung stock prices down 8/27/2012 : Shares of Samsung Electronics today nosedived by over seven per cent on the bourse, eroding USD 12 billion in its market capitalisation after the Korean firm lost a patent case against iPhone maker Apple Inc.

The electronic giant slumped by as much as 7.45 per cent, or by 95,000 won, to settle at 1.18 million won a share on the Korean Exchange (KRX)

Going by media reports, the drop in share price is believed to be its biggest daily percentage drop in nearly four years. At the end of today's trading session, Samsung's market capitalisation stood at 1.73 billion won (about USD 152 billion).

On Friday, Samsung had lost more than USD 1 billion in a patent against the US firm Apple as a jury in California found that the South Korean firm violated a series of iPhone maker's patents related to the software and design of mobile devices.

We believe this verdict could lead to Samsung delaying near-term product launches as it attempts to design around Apple's patents

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