Samsung shares fall after Galaxy S4 release
Shares in Samsung Electronics fell 1.7% in early trade in Seoul today, hours after the launch of the company's latest flagship smartphone in New York City.business Updated: Mar 15, 2013 08:24 IST
Shares in Samsung Electronics fell 1.7% in early trade in Seoul on Friday, hours after the launch of the company's latest flagship smartphone in New York City.
Samsung was trading around 1,494,000 won mid-morning owing to profit-taking led by foreign investors, with analysts saying the release of the Galaxy S4 had already been factored in and investors were the share price had hit a ceiling.
"It's not because the Galaxy S4 failed to meet expectations. It's just that investors feel technical smartphone upgrades are flattening out," Bae Seung-Young of Hyundai Securities told AFP.
The Galaxy S4, which will roll out in 155 countries in late April, has a high-definition, five-inch (12.7-centimeter) screen, enhanced picture-taking capabilities and the capacity to translate to and from nine languages.
Samsung's share price has held steady this year, while rival Apple has tumbled 20 percent as disappointing sales of iPhones raised fears that its dominance may be slipping.
The South Korean giant captured 29% of the smartphone market in 2012, to Apple's 21.8%, and 23% of the overall mobile phone market, ahead of Nokia's 17.9%.