Samsung's shares tumble 5%, market cap loses $8.8bn over projected growth slowdown

Image
ANI Washington
Last Updated : Jan 03 2014 | 11:55 AM IST

Samsung's stock reportedly declined by 5 percent on Thursday trading that took down the company's market cap by 8.8 billion dollars.

Trading under the Korea Stock Exchange, the drop comes amidst growing concerns that the company's profit growth is slowing.

According to Mashable, analysts predict that the South Korean company would report an operating profit of more than 9 billion dollars for the fourth quarter.

Declining profit growth was a top concern for Samsung for much of 2013 and market analysts have expressed concerns about the company's mounting marketing expenses and slowing demand for high-end smartphones.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 03 2014 | 11:29 AM IST

Next Story