SEOUL, KOREA - The share price of Samsung Electronics plunged to the lowest level in two years and two months, amid growing concerns about its third-quarter performance results.On September 23, Samsung Electronics closed at 1,161,000 won, down 2.27 percent or 27,000 won from a day ago.
Samsung Electronics shares opened weak, renewing the 52-week low at 1.18 million won and closed the day at the lowest level since July 25, 2012 (1,158,000 won).
Compared to the closing price a day ago, Samsung Electronics lost a market capitalization of 3.97 trillion won in just a single day.Even a day ago, the share price of Samsung Electronics fell by 1.82 percent to 1,188,000 won.
Key factors behind the decline in the share price of Samsung Electronics include the growing concerns that the company would fail to meet even the lowered third-quarter earnings estimates.
A day ago, Samsung Securities had predicted that Samsung Electronics’ third-quarter operating profit would stand at less than 4.7 trillion won for the third quarter due to sluggish smartphone business and an increase in losses in system LSI business.
