We cannot renounce the use of force otherwise a peaceful reunification would be impossible - China's Jhian Xemin on Taiwan
KOREAN ELECTRONICS GIANT Samsung had a nasty new year shock when it lost $9bn off its stock market capitalisation.
Reuters reported that the company's shares closed more than five percent down on Thursday at 1.302 million Won, following analyst predictions that the hold it currently has on market share cannot be maintained. In addition there is some question about the continuing profitability margin of the display side of the business.
"We expect Samsung's performance to be about 9.5 trillion Won, lower than the market consensus of around 10.2 trillion Won. The biggest reason would be the Won-dollar exchange rate, followed by shrinking margins in organic light-emitting diode (OLED) sales," said Lee Seung-woo, technical analyst at IBK Investment & Securities.
The news comes as a Samsung executive, perhaps spurred to action by the tumbling share price, told Korean reporters that the rumoured Samsung Galaxy S5 will be announced at this years Mobile World Congress (MWC) in Barcelona along with a successor to the Galaxy Gear Smartwatch.
This goes against previous suggestions that the device would be revealed a month later at a specific Samsung Unwrapped event. The executive also confirmed that the "Galaxy S5" name remained tentative and was under review.
However with the strong Won affecting Samsung's profitability in areas where the company trades in dollars, and doubts that the Galaxy S5 can match the market share of its predecessors, trading remains tough for the South Korean firm, and it's thought that a significant wow factor will be needed from products that Samsung unveils at CES and MWC. µ
Sign up for INQbot – a weekly roundup of the best from the INQ