Business Standard

Samsung shares down over 7 pc after losing patent case

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Press Trust of India New York/Seoul

The electronic giant slumped by as much as 7.45 per cent, or by 95,000 won, to settle at 1.18 million won a share on the Korean Exchange (KRX)

Going by media reports, the drop in share price is believed to be its biggest daily percentage drop in nearly four years.

At the end of today's trading session, Samsung's market capitalisation stood at 1.73 billion won (about USD 152 billion).

On Friday, Samsung had lost more than USD 1 billion in a patent against the US firm Apple as a jury in California found that the South Korean firm violated a series of iPhone maker's patents related to the software and design of mobile devices.

 

Meanwhile, Korea Composite Stock Price Index (KOSPI) was marginally up by 0.1 per cent to close at 1,917.87 points.

  

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First Published: Aug 27 2012 | 8:35 PM IST

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