Samsung Lose $10 Billion After False Media Report

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Samsung has reportedly lost $10 Billion dollars because of what Samsung claims is a “false” media report.Last week DigiTimes said that Apple placed large mobile DRAM orders with “troubled” Elpida’s 12-inch plant in Hiroshima, Japan, thus securing around half of the facilities’ total chip production.

Shortly after the story appeared Samsung shares slumped 6.2-percent eliminating $10 billion off the company’s market value. This was the company’s biggest daily fall in nearly four years.

Shortly after the story appeared Samsung moved an announcement about their new 20-nm DRAM chips — originally scheduled for today, up to May 17, to “quell fears with investors and shareholders.”

Samsung denies the DigiTimes story claiming that Apple will still use Samsung chips in their products.

“The report from Taiwan is exaggerated. Apple is always looking to diversify its part-sourcing channels. In flat screens and chips, Apple is sourcing parts from various clients that include Samsung, however, that doesn’t mean we are losing our edge as Apple’s top-tier client,” a Samsung executive told The Korea Times.

Another analyst claims that Apple is maintaining its bargaining power by keeping Elpida up and running, thus preventing Samsung and hynx from dominating the chip market.

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