Shares of Samsung Electronics continued to slide to their lowest level in more than four years in trading on Wednesday, Reuters reported, crude also fell for a fourth straight session.
Shares of Samsung Electronics Fell 2.1 percent to 51,700 won at 00:25 Greenwich Mean Time, the lowest since June 24,2020. The broader Kospi index (. KS11) also fell 1.1% .
Shares in the South Korean chipmaker have fallen 34 per cent so far this year, suggesting it could be heading for its worst annual performance in more than two decades. By contrast, shares in rival SK Hynix (000660.KS) are up 32% so far this year, while US chip giant Nvidia is up 199% .
Samsung Electronics issued a public apology for disappointing results last month. Samsung has lagged behind its rivals in meeting strong demand for artificial intelligence chips, leading to poor performance. The plight has further heightened concerns about Samsung’s future prospects, which are reflected in its falling share price.