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Samsung/Apple deal ‘dropped’

A US$3.8 billion investment deal between Apple and Samsung is no longer on the table, Reuters reports today. “The Korea Economic Daily reported on Saturday Apple had pulled out of the joint $3.8 billion investment plan due to deepening anti-Samsung sentiment among some South Korean politicians and civic groups. The paper quoted an unnamed senior Samsung official in the report.” The source was quoted by telephone stating “We had had some talks with Apple earlier this year but it did not work out due to differences over terms,” said the spokesman, adding they had dropped the joint investment talks “at a very early stage.”

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