S.Korean Apple suppliers' shares tumble on fears of weakness in iPhone sales

LG Innotek Co

13/11/2018 01:07

** South Korea's electronic part suppliers to Apple Inc
 AAPL.O  tumble as some suppliers issue warnings on results that
point to weakness in iPhone sales  urn:newsml:reuters.com:*:nL4N1XN4QW
    ** Shares of top two KOSPI firms, Samsung Electronics
 005930.KS  and SK Hynix  000660.KS , fall 4 pct and 6.2 pct,
respectively    
    ** LG Innotek  011070.KS  plunges 9.5 pct to its lowest
since January 2017, while LG Display  034220.KS  slips as much
as 3.3 pct
    ** Samsung Electro-Mechanics  009150.KS , Apple's supplier
of multi-layer ceramic capacitors, loses as much as 5.2 pct
    ** Apple has attempted changes with higher price on iPhone
XR but this is not working in its markets, says Lee Jae-yun, an
analyst at Yuanta Securities Korea, noting LG Innotek, with
biggest dependency on Apple supply, is hit the most
    ** Broader KOSPI market  .KS11  was trading down nearly 2
pct as of 0100 GMT

 ((hayoung.choi.thomsonreuters.com@reuters.net))