Friday, July 6, 2012

Samsung Shares Fall After Quarterly Sales Miss Estimates

Samsung Electronics Co. (005930), the world’s largest maker of televisions and mobile phones, fell in Seoul trading after second-quarter sales missed estimates, fanning concern that Europe’s debt crisis is dragging on demand. Samsung dropped 2 percent to 1,161,000 won at the close of trading in Seoul, compared with a 0.9 percent decline in the benchmark Kospi index. The South Korean company was the biggest contributor to the decline on the MSCI Asia-Pacific Index today. http://www.bloomberg.com/news/2012-07-05/samsung-2nd-quarter-profit-beats-estimates-on-galaxy-phone-sales.html