NEW YORK — Apple shares are getting bit by a rival.
The iPhone maker’s stock fell more than 4 per cent after Samsung unveiled two new smartphones at a trade show in Berlin Wednesday.
Samsung announced the Galaxy Note Edge phone, which has a side display for quicker access to Twitter, the flashlight, news and other apps. It also showed off a new Galaxy Note 4 phone and a virtual-reality headset for the phone to watch concerts or play games.
The Samsung unveiling comes less than a week before Apple is expected to unveil new products, next Tuesday.
Shares of Apple Inc. are down $4.25 to $99.10 in afternoon trading, erasing more than $25 billion of its market value.
By: The Associated Press