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Shares of iPhone maker Apple fall after Samsung unveils new phones

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Courtesy Of: Reed Saxon

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.

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By: The Associated Press 

Source: http://www.ctvnews.ca/business/shares-of-iphone-maker-apple-fall-after-samsung-unveils-new-phones-1.1989078

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