A week ago Samsung lost $12 billion in share values because of a report by J.P Morgan that said that the Galaxy S4 sales were overestimated and the total sales of 80 million units by the end of 2013 is no longer viable, saying that 60 million is a more appropriate estimate.
As a response, Kim Yoo Chul, CEO of Samsung is denying the claims from J.P.Morgan and is saying that the sales are normal and Galaxy S4 is in the numbers to break the record. Also, Kim Yoo Chul put J.P. Morgan under a bad light and said that they are making bad predictions and they need to improve their analysis. He intended this way to save the image of the company and let the market create its own idea about the device and the company.
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However, the stock of the company lost around 7.44% of its value since it started to fall. The number is really big if we think about the money involved, but Samsung directors aren’t worried about it. If we think about the records established so far, we can’t say that Galaxy S4 is selling bad at all, but some investors expected things to be better than this.
Some specialists say that the sell off is just a correction of the market from the big jump that happened before. Personally, I think that things will come to normal in a few days and I give credit to the specialists. Also, the price was near to the all time high and this can also be a reason why it went down a little bit. However, Samsung is far from falling down.
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