SEOUL, KOREA- The share price of Samsung Electronics slid, driven by the news that Microsoft acquired Nokia’s mobile phone business unit. Worries spread that the market share of Korean mobile phone makers may decline if the world’s largest software maker Microsoft makes mobile phones for itself.
On September 3, Samsung Electronics’ share prices closed at 1,337,000 won, down 1.04 percent from a day ago.
Opening the day strong at around 1,364,000 won, up more than 10,000 won from a day ago, the share price of Samsung Electronics remained strong in the morning session. Its share price, however, turned downward, sliding to 1,326,000 won, amid news that Microsoft acquired Nokia, and recovered slightly to 1,330,000 won before the day’s close.
The share price of LG Electronics showed similar patterns. After opening the day strongly, it turned southward after the news of Microsoft’s acquisition of Nokia and turned upward again at the end of the day. The stock price of LG Electronics closed at 73,500 won, up 0.41 percent from a day ago.