Published in News
Samsung earns $8.3 billion quarterly profit
Fears that it might slow
In “you can’t please anyone these days” news, Samsung had a surprise lack of enthusiasm for its $8.3 billion quarterly profit announcement.
It is the fifth time that the company has had record quarters and many shareholders are worried that the run may end in January-March on weaker seasonal demand. The stock dipped 1.1 percent on Tuesday, in a Seoul market that was down 0.4 percent.
Kim Sung-soo, a fund manager at LS Asset Management told Reuters that investors were a bit concerned that Samsung's momentum may slow in the first half. The smartphone market is unlikely to sustain its strong growth as advanced markets are nearing saturation despite growth in emerging countries, he said.
So far though Samsung has outpaced Apple and routed Jobs’ Mob’s iPhone 5 which was supposed to restore its lead and didn’t. Samsung is valued at close to $230 billion.