Samsung shares fall after Galaxy S4 release
Samsung's new Galaxy S4 is seen during its unveiling on March 14, 2013 at Radio City Music Hall in New York. The slim, feature-rich Galaxy S4 was introduced as Samsung's new champion in the fiercely competitive smartphone arena, scheduled to roll out in 155 countries in late April. AFP PHOTO / Don EMMERT
Shares in Samsung Electronics fell 1.7 per cent 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 S4 had already been factored in and investors were the share price had hit a ceiling.
"It's not because the Galaxy S4 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 S4, 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 percent as disappointing sales of iPhones raised fears that its dominance may be slipping.
The South Korean giant captured 29 percent of the smartphone market in 2012, to Apple's 21.8 percent, and 23 percent of the overall mobile phone market, ahead of Nokia's 17.9 percent.
