Samsung Electronics Co. market value increased by $11 billion followed by an announcement of Galaxy S6 and S6 Edge.
The Korean mobile manufacturer Samsung Electronics Co. has seen its market value escalated by $11 billion from the very first time it pronounced to launch S6 Edge and Galaxy S6 smartphones. The share market is supposing that the largest phone manufacturer of the world is going to reiterate its supremacy in the exceptionally competitive mobile market.
The company has revealed the S6 Edge and Samsung Galaxy S6 smartphones to contest against its biggest rival Apple Inc. Samsung Electronics has been under great stress to maintain its maximum position as the iPhones craze continuous to rise with latest launches and recently Xiaomi launch attaining grip in economical price. Shares of Korean based electronic firm have escalated by over 6% last month, which was the highest in last 10 months.
The company assumes its latest payment service software and a 3 sided display on S6 Edge to resuscitate the revenue, which had witnessed a plunged at the time of S5 launch. Samsung is under strong competition with Apple’s iPhone 6 and 6 plus, which supported the firm to report historical quarterly profit of nearly $18 billion in the last quarter of 2014. Chinese mobile phone maker such as Xiaomi Corp. is also weakening market share of the company with its newly launched smartphone Redmi 2.
IBK Securities analyst, Lee Seung said in Seoul, “There’s a lot of buzz about the new S6phones and consumer demand. The pre-order demand for S6 devices is a lot higher than its predecessor S5, and the phone will win back many consumers.”
Indeed Samsung has responded Apple in a suitable manner, as most of the people believes that Samsung new launches will be a strong competition to Apple’s iPhone 6 and 6 plus. According to Forbes S6 is the most beautiful smartphone in the world. Different tech and mobile review websites are calling S6 and S6 Edge “truly fantastic smartphones.” The NYT looked extremely impressed with the smartphones and called them “flagship phones that finally feels like a flagship.”
Market capitalization of Samsung Electronics reached $191.19 billion mark at market close on Tuesday. In the similar period, Apple’s market cap tumbled by $23 billion and stood at $725 billion.
In the last 12 months, the Koran mobile maker firm has gone through a toughest time as its market share was affected by newly launched phones from Xiaomi and Lenovo in India and China. IPhone 6 was also popular amid customers as they were all ready to pay extra for added features.