“Samsung Electronics Co. slumped a second day in Seoul, pushing the loss of market value for the world’s biggest smartphone maker [by unit share, not profit share – MDN Ed.] to $15 billion since posting its smallest profit in two years,” Jungah Lee reports for Bloomberg. “The stock has dropped 7.4 percent, wiping off more than the market value of Korean rival LG Electronics Inc. (066570), since Samsung yesterday reported earnings that missed analyst estimates, with profit falling 18 percent on stagnating phone shipments.”
“Samsung’s dominance is under threat as Apple Inc. lures high-end buyers and Chinese vendors including Xiaomi Corp. and Huawei Technologies Co. attract budget consumers with feature-packed devices at lower prices,” Lee reports. “The maker of Galaxy smartphones, which has about $58 billion of cash, was the only one of the top five producers to post lower shipments in the June quarter as its market share shrank 7.4 percentage points, according to data from Strategy Analytics.”
“Shares of Samsung fell 3.8 percent to 1,292,000 won today. The stock has dropped 5.8 percent this year, compared with a 3.1 percent advance in the benchmark Kospi index, of which it’s the largest component. That’s the company’s biggest two-day drop in almost two years,” Lee reports. “Samsung’s market share fell to 25.2 percent in the June quarter, with Apple retaining second place and Huawei, Lenovo Group Ltd. and Xiaomi filling the next three spots, respectively, Strategy Analytics said yesterday. Samsung’s lead in the market for screens larger than 5 inches, which it pioneered with its Note devices, faces a new threat from Apple, which is said to be preparing iPhones with larger displays.”
Read more in the full article here.
MacDailyNews Take: Sweet, sweet Karma. A toast to you is coming this evening!
Samsung being eaten from the bottom up by yet another, even cheaper Apple copier, Xiaomi, is rather amusing.
When Apple finally extracts their collective head from their collective ass and ships iPhone models with larger screens, they’ll do more damage to slavish copier Samsung than all of their endless, plodding patent infringement cases combined. – MacDailyNews Take, January 23, 2014
May the pain coming to Samsung pack thermonuclear intensity.
woah.
karma is a beeyatch.
If the iPhone 6 really does come in two sizes, they should maybe have different lettering to distinguish them, kinda like how we have the 5s and 5c now.
One of them should be the iPhone 6k.
Cuz karma, beeyatch!
Go Xiaomi 🙂
They may have copied the wrong model, Microsoft and not Apple.
Poor Samsung, trying to be “Premium” and yet so pedestrian!
Hiding sales figures behind shipped units finally catching up with Samsung. They could no longer hide or pack inventory away once they hit a slowdown.
The only way to compare how they stack up to Apple would be to report actual sales, not shipped.
hahahahahahahahah
A knockoff being squeezed by a knock…such sweet justice 😊
Old Knockoff is KnockedOut (KO’d) by new Knockoff
It looks like the honeymoon is over, now let’s watch breathlessly from the hotel balconies as Sammy goes over Niagara Falls in a barrel, constructed from balsa wood staves and plastic hoops
Cry me a river.
👇📉📉📉🚽
As long as Xiaomi doesn’t slavishly copy Apple’s ideas, I wish them well. Can’t tell from their online store page, though:
http://www.xiaomishop.com/
Mi Pad looks an awful lot like an Ipad mini. Same screen size and profiles
The ripoff Apple more blatantly than Samsung.
Losing $15 billion in market value is NOTHING… for Apple. 🙂 Yesterday, AAPL was down about $3, and that’s worth about $18 billion in market value. Fortunately (for Apple), Apple is worth close to $600 billion. For Samsung, $15 billion drop in market value is much more meaningful…
And the world cheers!