Samsung Electronics loses $12 billion market value on smartphone worries

SEOUL – Samsung Electronics Co lost $12 billion in market value on Friday, hit by brokerage downgrades that have underscored concerns about slowing sales of its flagship Galaxy S4 smartphone.

The share slide of more than 6 percent comes after it recently introduced two stripped-down versions of the S4, fanning worries that profit margins for its mobilebusiness will suffer. It also follows a report that arch-rival Apple will begin a trade-in program for iPhones.

The new stripped-down S4 models will help it widen its lead in the global smartphone market and fend off Chinese competitors, but some fear that the South Korean tech giant is trading in profits for volume.

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http://beta.dawn.com/news/1016680/samsung-electronics-loses-12-billion-market-value-on-smartphone-worries

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