Samsung stocks wiped 39 million dollars of the company’s value

Istanbul, Aug 13 (DHA) – Samsung Electronics stocks wiped 39 billion dollars of the company’s value and became one of the world's worst-performing technology stocks this year.

According to a report by CNBC, Samsung's stock fell 11 percent since the beginning of the year.

South Korea-based Samsung's shares had risen 41 percent in 2017.

Samsung said the company's best selling smartphone "Galaxy S9" sales were lower than expected.

The firm is hoping the recently-released "Note9" smartphone with 1,000 dollars market price to help revive sales.

Neil Shah, research director at Counterpoint Research, said Samsung has lost share in the major markets of China, Europe and the US, where it can demands higher than average selling prices of phones. 

Major US tech stocks like Apple and Amazon have outperformed Tencent and Samsung, according to report