Samsung Electronics shares hit lowest in more than four years

SEOUL (Reuters) – Shares in Samsung Electronics (KS:005930) extended declines to a fourth straight session on Wednesday, hitting their lowest level in more than four years.

Shares traded down 2.1% as of 0025 GMT, after falling as much as 2.5% to 51,700 won, the lowest since June 24, 2020, while the broader KOSPI market fell 1.1%.

The South Korean chipmaker, down 34% in the year-to-date, is on course to post its worst annual performance in more than two decades. Rival SK Hynix has risen 32% so far this year, and U.S. chipmaker Nvidia (NASDAQ:NVDA) has gained 199%.

Last month, Samsung apologised for its disappointing profit, since it has lagged rivals in tapping booming demand for artificial intelligence chips, as competition from Chinese companies grows.