SEOUL (Reuters) - Samsung Electronics Co, the world’s No.2 handset maker, denied market speculation of massive inventory build-up in its Galaxy tablet on Wednesday.
Shares of the South Korean company have come under pressure recently amid market talk its tablet was not selling well and it may have to lower prices aggressively to compete with Apple’s iPad 2. Online media outlet MoneyToday reported market rumors on Wednesday that Galaxy Tab inventory was running at several hundred thousand units.
“We don’t comment on market speculation but such talk is absolutely groundless,” Samsung spokesman James Chung said.
“Our tablet strategy is offering a broad product range with different sizes to support wider customer choice.”
Samsung, which has sold more than 3 million units of the 7-inch Galaxy Tab since its launch late last year, unveiled on Wednesday 8.9-inch and 10.1-inch Galaxy Tabs, which it calls the world’s thinnest tablet devices.
Reporting by Miyoung Kim; Editing by Jonathan Hopfner