Asia Tech Wire (Oct 14) -- Samsung Electronics saw its market value evaporate by nearly 90 trillion won ($66.2 billion) amid a market "winter", according to Aju News.

Data released by the Korea Exchange on Sunday showed that from September 3 to October 11, foreign investors sold Samsung Electronics shares for 23 consecutive trading days from Sept. 3 to Oct. 11, totaling 10.6593 trillion won.

During this period, Samsung Electronics shares plummeted from 74,400 won to 59,300 won, down 20.3%, and the company's market value dropped from 444 trillion won to 354 trillion won, evaporating nearly 90 trillion won.

Taking the end of the month as the basis, the foreign ownership of Samsung Electronics fell from 56.02% in August to 53.75% in September, a drop of 2.27 percentage points, which is the largest drop since 2004.

Last week, Samsung Electronics released its unaudited earnings forecast report for the third quarter of 2024 ending September 30th.

The financial report showed that Samsung Electronics achieved sales of 79 trillion won in the third quarter, up 17.2% year-on-year.

Due to weak demand for PC and mobile storage semiconductors, the company recorded an operating profit of 9.1 trillion won during the same period, up 274.5% year-on-year, but below market expectations of 10.3 trillion won.