Samsung Value Slumps $15 Billion on Shrinking Earnings
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Samsung Electronics Co. slumped a second day in Seoul, pushing the loss of market value for the world’s biggest smartphone maker to $15 billion since posting its smallest profit in two years.
The stock has dropped 7.4 percent, wiping off more than the market value of Korean rival LG Electronics Inc., since Samsung yesterday reported earnings that missed analyst estimates, with profit falling 18 percent on stagnating phone shipments.