Samsung’s $11 Billion Month Pushes Apple’s Market Shares to Take a Dip
Our dear Sammy seems to be getting back into the game quite fiercely. How things change! Struggling with a rather crappy release of Samsung Galaxy S5 last year, even the loyal Samsung fans had started to move towards the other side of the industry – you know where. But girl, what a huge jump did Samsung just make. According to financial reports, Samsung Electronic Co. has had a tremendous $11 billion month! This happened after the release of the lovely Galaxy S6 duo launched by the Korean tech manufacturer.
Samsung’s $11 billion month:
Samsung has added some $11 billion in the market value after the Samsung Galaxy S6 and the Galaxy S6 Edge were introduced by the company earlier in March. Since then, company’s shares have climbed 6.2 percent which is its best since May 2014. This report comes through Bloomberg News further sharing the details that Samsung’s current market value stands at $191.19 billion.
But that’s not the entire story. With Samsung’s soaring market value, Apple is naturally seeing a decline in its shares with quite a huge dip in the last month alone:
Samsung’s market value reached 212.26 trillion won ($191.19 billion), at the close of trading in Seoul on Tuesday, or about 12.37 trillion won more than on March 1. Apple was worth about $725 billion as of the close in New York, a $23 billion decline during the period.
Samsung Galaxy S6 and the S6 Edge are yet to reach the consumers. But the company is witnessing increased pre-order sales, raving reviews of its smartphones, and an expected return of its loyal fans now that Samsung has gone premium with the material it uses with its high end devices.
Well, let’s see if this insane craze lasts once the devices are actually in consumers’ hands and if they like it or not. So far, critics have certainly loved the new phones.
– Source: Bloomberg News