“Samsung Electronics Co. slumped to a 10-month low in Seoul on disappointment with its latest smartphones to challenge Apple Inc.,” Jungah Lee reports for Bloomberg.
“The stock dropped 3.2 percent to 1,104,000 won on Monday, its lowest since October 28,” Lee reports. “Samsung has fallen 17 percent this year and is headed for its third straight annual decline.”
“‘Last week’s unpacking event was very disappointing,’ said Yoo Eui Hyung, an analyst with Dongbu Securities Co. in Seoul. ‘We should now admit that new smartphones are no longer a thing that can reverse the profit decline,'” Lee reports. “Samsung earnings have fallen for five straight quarters.”
Read more in the full article here.
MacDailyNews Take: Aw, gee, that’s too bad. 🙂
More pain, please, karma!
It’s always nice to start off each day with some thermonuclear energy!
[/caption] SEE ALSO:
Beleaguered Samsung unveils Galaxy S6 Edge Plus and Galaxy Note 5, shares fall – August 13, 2015
Beleaguered Samsung’s days in the sun are over in smartphone market – August 4, 2015
Samsung drops $10 billion in market value on poor demand for Galaxy S6 phones – July 31, 2015
Samsung will never overcome Apple’s advantage in mobile device profitability – July 30, 2015
Apple iPhone shipments show impressive growth as Samsung falls – July 30, 2015
Samsung offers downbeat outlook for year ahead of new Apple iPhones – July 30, 2015
Apple’s indomitable iPhone 6/Plus sales unfazed by Samsung’s anemic Galaxy S6/Edge – June 2, 2015
iPhone 6, killer: Beleaguered Samsung’s Galaxy S6 sales are a total disaster – May 22, 2015
Beleaguered Samsung reports 30 percent decline in operating profit – April 28, 2015
Samsung Galaxy S6 phones suffer weaker than expected sales in South Korea homeland – April 22, 2015
15 percent of Samsung Electronics execs quit amid profit slump – April 2, 2015
Significant Android to iPhone switching weakens market for Samsung Galaxy S6 – March 24, 2015
Apple iPhone takes smartphone market share from Android around the world – March 4, 2015
Poor man’s iPhone: Android on the decline – February 26, 2015
[Thanks to MacDailyNews Readers “Bill” and “Edward W.” for the heads up.]