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August 27, 2012

Samsung shares plummet after patent case verdict

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Shares of electronic giant Samsung took a major hit yesterday. Shares dropped by almost 7 percent in their first day of trading after the Apple v. Samsung patent case verdict was read. This was Samsungs greatest one-day price drop in Five years.

In early morning trading shares of Samsung were off 6.98 percent, down 89,000 South Korean Wan (£49.58)($78.38) to 1.19 million SKW (£660.25)($1,043.88). It was the company’s largest decline since October 2008 and this is looking very bad for Samsung, infact one senior Samsung executive called “absolutely the worst scenario for us.”

Samsung is almost definitely going to launch an appeal in the patent case and after these results they will be praying they get a better verdict.

Let us know how you think this will turn out below or on Twitter and Facebook

Source – Cnet

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Ryan Oneill

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