A simple misunderstanding may have put a dent in Samsung's stock.
During Samsung's quarterly earnings call last Friday, Samsung Vice President Lee Young-hee discussed sales of Samsung's newest tablet, the Galaxy Tab.
A number of media outlets, including heavyweights such as The Wall Street Journal, Los Angeles Times, and Engadget reported that Lee said Galaxy Tab sales were quite small. Other news sites picked up on the story, using Lee's comments as evidence that Samsung's newest device wasn't doing as well as the company had hoped.
Samsung's stock closed on Friday at ?1,012,000 ($909.99) but fell on Monday to ?988,000 ($888.51) in the wake of the call. It opened Tuesday at just under ?985,000 ($885.82) and closed at ?983,000 ($884.28), for a loss of 2.6 percent over the two days.
Today, Samsung issued a clarification on the story. On a post on the Samsung Tomorrow blog, the company said that Lee's comments on the Tab were misheard. Rather than quite small Young-hee actually said that sales were quite smooth. The company even included a YouTube video featuring the snippet in question.
The Journal's headline was changed to reflect Samsung's correction. The former headline, which read Samsung Galaxy Tab Sales Actually 'Quite Small' now reads Samsung Galaxy Tab Sales Not As Fast As Expected. The newspaper said reporter Evan Ramstad was working from a transcript of the call. The LA Times and Engadget both linked to the Journal's story.
Endgadget said the word 'whoops' is probably a good place to start with this one. The LA Times has not yet published a correction.
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