Samsung Electronics share price up, broadens portfolio as new devices unveiled

Samsung Electronics Co., the largest smartphone manufacturer in the world, stepped into the spotlight yesterday, presenting several of its new devices, ahead of a similar event of major rival Apple.

The centerpiece of Samsungs event was the 5.6-inch Note Edge, whose display can curve around one side of the device.

“The design is quite cool and interesting,” Lee Min Hee, analyst at I’M Investment & Securities Co., said for Bloomberg. “Samsung will study the market reception first and if received well, it may apply the flexible display technology to its upcoming Galaxy phone next year.”

A highly-anticipated piece, the Note 4 was also revealed, featuring better display and camera, and a noise-cancelling three-microphone sound input system, alongside further improvements. The new Note 4 is expected to hit shelves next month and will be priced similar to Note 3, while the Edge will be more expensive, the company said.

Samsung also pushed beyond standard handset devices, revealing a virtual-reality headset, which was developed with the Oculus division of Facebook Inc., and a new smartwatch. The company did not specify when exactly are the new products planned to be released, neither did it reveal the prices of the devices.

The company announced the new products only a few days ahead of the September 9th event of Apple, which is expected to reveal its long-expected new iPhone. Security-problem stricken Apple has been patching reputation recently, after an iCloud vulnerability caused a number of celebrity nude photos to leak to the web.

Samsung Electronics Co. Ltd was 0.42% up to close at KRW 1 210 000 (~$1 187) per share today. As of the previous close, the company was valued at KRW 197.29tn (~$193.54bn). According to the Financial Times, 41 analysts offering 12-month price targets for Samsung Electronics Co. Ltd have a median target of KRW1 600 000, with a high estimate of KRW2 200 000 and a low estimate of KRW1 095 000. The median estimate represents a 34.57% increase from the last price of KRW1 189 000.