Thursday, January 5, 2006
The market capitalization of Samsung Electronics exceeded $100 billion (100 trillion won) on Wednesday, making the company one of only four in Asia to reach that mark.
The Korean giant’s share price jumped 5.1 percent to a record 699,000 won, pushing its market capitalization to $102 billion. Samsung is now second only to Vodafone among non-U.S. technology stocks.
Market rumors suggest the surge in the share price relates to a proposed two-for-one split of its common stock, though Samsung refused to comment on the speculation.
The company is due to report is results for 2005 on Jan. 13, and analysts suggest fourth quarter earnings will top or perhaps exceed estimates, helped by booming sales of its mobile phones and flash memories along with improved profit margins on flat-panel displays.
By: DocMemory
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