Samsung share price recovers following S4 sales defence

The share price of Samsung is level today (June 14th) after the company came out in defence of its flagship smartphone, the Galaxy S4.

Some analysts have claimed sales of the device have been disappointing, but this has been refuted by chief executive officer JK Shin.

"I can say sales of the Galaxy S4 smartphone are fine. It's been selling well," Shin said, speaking with the Korea Times.

The share price of Samsung dropped by six per cent on reports the sales of the S4 have not lived up to expectations so far. Rival devices for the S4 include the iPhone from Apple and the HTC One, as well as the LG Nexus.

Samsung is predicting that it will be able to sell a huge 100 million S4 handsets during the smartphone's lifecycle, which would make it one of the most successful technological products of all time.

In today's trading, the share price of Samsung is actually slightly up, with shares trading almost one per cent higher than at the opening of the day.

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