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The next generation Samsung devices enhanced with built-in crypto-supporting features are expected to push the SSNLF stock prices higher in the world markets attracting more investors.
Samsung Electronics Co. unleashed the next generation of its Smartphone series on February 20. After the launch, investor now will focus on a better showing from the behemoth brand after a dismal 2018. Based on the red-hot start from the SSNLF stock, investors believe that South Korea’s biggest brand will succeed.
The share prices so far have surged 21% in 2019 recovering nearly all its 24% losses from 2018. These gains have catalyzed the benchmark Kospi Index to advance by over 9% in 2019. That represents a significant jump in the region in the midst of a wider market rally. The rally was sparked by growing optimism of a viable result in the U.S.-China trade deal.
On Wednesday, the South Korean benchmark ranked among the biggest gainers in Asia. Samsung unveiled at least four new flagships devices including Galaxy Fold, the company’s first foldable Smartphone. This release is set to benefit Taiwan Semiconductor Manufacturing Company (NYSE:TSM), Qualcomm (NASDAQ:QCOM), and Broadcom (NASDAQ:AVGO).
Investors: Who’re They?
Reports reveal that foreign investors are the biggest buyers of the SSNLF stock this year. They have acquired a net 2.76 trillion (worth $2.46 billion) shares. That figure is the most of any company in the Kospi. The domestic individuals and institutions are the net sellers. The stock accounts for almost 20% of the Korean benchmark based on Samsung’s size.
The buying is an integral contributor of over $4.1 billion in foreign inflows for the market this year. That amount is the most in the Asian region after China. However, traders are still wary of the US-China trade row. The United States wants China to stabilize the Yuan value.
The stabilization will neutralize any efforts by Beijing to devalue its currency to counter American tariffs. Negotiations are underway in Washington as the March 1 deadline looms next week.
Evidence shows that consumers do not want to spend a lot of money on phones. Also, they are hanging on their new phones for longer. In the past, people would wait in line to get new phones. Sharper screens, better cameras, and faster data speeds were must-have features that propelled the large sales.
There is a slowdown in most of the phone innovations. Thus, not many individuals are ready to upgrade for up to $999 while their current devices are functioning just fine. Currently, many people want a phone with a longer battery life. Most of the applications and phone features guzzle a lot of phone power.
Any phone company that offers handsets with longer battery life in the current market is almost guaranteed to win the sales race. Although some consumers may not be excited by the new high-end devices, the crypto community was waiting eagerly. They were not waiting for the cameras or other normal features; instead, they were waiting for the “Samsung Knox”.
The Samsung Knox feature can securely store private keys for blockchain-powered applications including the cryptocurrency wallets. As we reported earlier, Samsung has always strived to integrate its phones with emerging technologies incorporating built-in crypto support features.
Most of the crypto supporters were excited by this launch. “The newly added feature built into Samsung’s S10 is indeed noteworthy and is yet another sign that more companies and people are taking crypto and blockchain seriously,” Mati Greenspan, eToro analyst said.