Agence France-PresseJune 7, 2013 05:26
Samsung Electronics shares plunged more than six percent Friday, the biggest single-day drop in nine months, after analysts at JP Morgan forecast slower sales of its new flagship smartphone.
Shares in the world's largest smartphone maker closed down 6.2 percent at 1,427,000 won.
Traders attributed the selloff to a research note from JP Morgan analyst J.J. Park., who said sales of the South Korean giant's Galaxy S4 might not be as strong as had been expected.