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Samsung's shares tumble 5%, market cap loses $8.8bn over projected growth slowdown

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ANI Washington

Samsung's stock reportedly declined by 5 percent on Thursday trading that took down the company's market cap by 8.8 billion dollars.

Trading under the Korea Stock Exchange, the drop comes amidst growing concerns that the company's profit growth is slowing.

According to Mashable, analysts predict that the South Korean company would report an operating profit of more than 9 billion dollars for the fourth quarter.

Declining profit growth was a top concern for Samsung for much of 2013 and market analysts have expressed concerns about the company's mounting marketing expenses and slowing demand for high-end smartphones.

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First Published: Jan 03 2014 | 11:29 AM IST

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