Samsung shares fall again to a nine-month low on diminished earnings outlook
Samsung's shares have fallen on hard times ever since word on the grapevine leaked by analysts and Korean publications that the company has reduced the parts orders with suppliers for the flagship Galaxy S4. Samsung lost about $12 billion in market cap during the process, and now it has taken a beating again.
On Wednesday during regular trading hours on the Korean stock exchange, shares of Samsung Electronics fell another 3 percent, dropping to a nine month low, on rumors that it is going to report diminishing earnings for the April-June period, compared with the analysts' predictions.
The shares have been falling for a sixth consecutive session, despite Samsung rocking announcement many new products in the last few weeks - most of the bread-and-butter new mobile devices were niche versions of the Galaxy S4 like the Zoom or Active, while the big innovations came with Wintel products like the ATIV Q convertible, rather than in mobile, where Samsung's margins are much higher.