Samsung's Market Cap Loses $8 Billion on Profit Growth Concerns

Samsung is off to a rocky start this year.

Samsung Electronics' stock declined by nearly 5% in trading Thursday on the Korea Stock Exchange, shaving off $8.8 billion from the company's market cap, according to The Wall Street Journal . The drop comes amid growing concerns that Samsung's profit growth is slowing

See also: Samsung to Launch 110-Inch Ultra HD TV Monday

The South Korean company is expected to report an operating profit of more than $9 billion for the fourth quarter, according to a survey of analysts. That's more than the overall revenues of many tech companies, but it represents a 9.2% increase from the same quarter a year earlier. By comparison, Samsung's profit in the third quarter was up 26% year-over-year. Read more...

More about Samsung and Business



via Mashable http://mashable.com/2014/01/02/samsung-stock-decline/?utm_medium=feed&utm_source=rss