“Tepid demand for Samsung Electronics Co.’s newest Galaxy smartphones triggered a fifth straight monthly decline for the electronics maker, wiping out about $44 billion in market value since April,” Jungah Lee reports for Bloomberg. “”
“Shares of the world’s biggest smartphone vendor slumped 8.1 percent this month, extending their longest losing streak since December 1983,” Lee reports. “Samsung dropped almost $12 billion of value in August alone as the South Korean company surrendered market share to Apple Inc. and Chinese competitors.”
MacDailyNews Take: Beleaguered Samsung is the “world’s biggest smartphone vendor” in unit shipments only. Certainly not in profit.
Apple’s iPhone owns 92% of smartphone industry’s profits – July 13, 2015
Jungah Lee might want to ask Michael “Delisted” Dell how that “strategy” culminates.
“‘We all know its smartphone business isn’t doing well,’ said Lee Seung Woo, an analyst at IBK Securities Co. in Seoul. ‘I can’t really figure out when the stock will stop declining. The fundamentals look problematic,'” Lee reports. “One of its latest models, the Galaxy Note 5, was criticized by reviewers and customers this month as the company acknowledged that the device can break if the stylus is inserted backward into the storage slot.”
Read more in the full article here.
MacDailyNews Take: More pain, please, karma!
SEE ALSO:
Samsung stole trade secrets from TSMC to win Apple A9 stamping deal – August 26, 2015
Apple’s dual-core iPhone 6 destroys Samsung’s octa-core Note 5 in speed test – August 26, 2015
Major Samsung Galaxy Note 5 design defect: Inserting ‘S-Pen’ backwards permanently damages device – August 25, 2015
Gartner: Apple iPhone sales increase 36%, beleaguered Samsung declines 5.3% YOY in Q215 – August 20, 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