SEOUL – Shares in Samsung Electronics fell 1.7% in early trade in Seoul on Friday, hours after the launch of the company’s latest flagship smartphone in New York City.
Samsung was trading around 1,494,000 won mid-morning owing to profit-taking led by foreign investors, with analysts saying the release of the Galaxy S IV had already been factored in and investors were concerned the share price had hit a ceiling.
“It’s not because the Galaxy S IV failed to meet expectations. It’s just that investors feel technical smartphone upgrades are flattening out,” Bae Seung-Young of Hyundai Securities told AFP.
The Galaxy S IV, which will roll out in 155 countries in late April, has a high-definition, five-inch (12.7-centimeter) screen, enhanced picture-taking capabilities and the capacity to translate to and from nine languages.
Samsung’s share price has held steady this year, while rival Apple has tumbled 20% as disappointing sales of iPhones raised fears that its dominance may be slipping.
The South Korean giant captured 29% of the smartphone market in 2012, to Apple’s 21.8%, and 23% of the overall mobile phone market, ahead of Nokia’s 17.9%.
