Apple Nixes Samsung Investment Plan
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Apple has decided against investing some $3.8 billion in Samsung, citing the increasing "anti-Samsung sentiment [that] has recently deepened among some political and civic groups," according to an anonymous Samsung official. Details of the fallout were reported Saturday in the financial paper Korea Economic Daily.
Apple reportedly buys about 40 percent of Samsung's flash memory for its popular Nano and Shuffle iPods. This has caused several Korean competitors to publicly complain in the media of a "favorable arrangement" and accuse the two companies of collusion, with the Korean Fair Trade Commission looking into the allegations.