Samsung shares on high after Google cut ties with Huawei
Samsung Electronics shares surged more than four percent on the back of its chief rival Huawei's mounting problems, including a decision by Google to sever ties with the Chinese mobile phone maker.
US internet giant Google, whose Android mobile operating system powers most of the world's smartphones, said this week it is cutting ties with Huawei to comply with an executive order issued by President Donald Trump.
The move could have dramatic implications for Huawei smartphone users, as the firm will no longer have access to Google's proprietary services which include the Gmail and Google Maps apps.
Investors bet Huawei's loss could benefit Samsung, the world's biggest smartphone maker which has been facing increasing competition from its Chinese rival, sending its shares soaring 4....