Shares of Samsung SDI have fallen for the 7th straight day amid Samsung Galaxy Note 7 battery woes. Shares traded at 103,500 won on Sept. 5, 09: 05 AM, down 5,000 won (4.61%) from the previous trading day.
Though the announcement of a global recall of the Galaxy Note 7 helped retain consumer confidence in Samsung Electronics, Samsung SDI, a supplier of Galaxy Note 7 batteries, is bearing the brunt of Samsung's Galaxy Note7 debacle, according to market watchers.
Analyst Park Kang-ho at Daeshin Securities said: “Disappointing performances in the 3rd and 4th quarters are likely to push the company deeper into the red. However, short-term profit declines are less worrisome here. Samsung's Galaxy Note7 battery fires could decrease Samsung SDI’s chances of winning 2017 global deals to supply smartphone batteries and mid- to large-sized batteries.”
