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Samsung rebounds

by on11 February 2014

Currency concerns subside

Things are starting to look promising for Samsung again after currency concerns which blighted the company’s bottom line subsided. Shares of South Korea's Samsung Electronics rebounded today rising as much as 3 percent.

Park Kang-ho, a tech analyst at Daishin Securities said that the recent set back in the yen's weakness against the dollar and the won has cleared much worries stemming from currency rates, highlighting the cheap valuation of Samsung Electronics shares following a sluggish January.

The cocaine nose jobs of Wall Street were starting to write off Samsung after the company’s results and the tame Apple Press claimed it was because Jobs’ Mob was finally beating it. However the company still is doing well in China, which Apple isn’t and the only real problem for the outfit was currency problems.

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