Apple's stock was up US$2.66 at US$116.72 in afternoon trading and was the largest contributor to gains on the S&P 500. Samsung's ongoing problems suggested the world's largest smartphone maker has failed to fix a problem that has already damaged its brand and threatened to derail a recovery in its mobile business. "We believe the Note 7's ongoing issues could help market share shifts for Apple," Credit Suisse analyst Kulbinder Garcha said in a note to clients on Oct 10. He estimated that a 5% gain in high-end smartphone market share would increase Apple's earnings per share by as much as 7%. Samsung is the world's largest seller of smartphones by volume, with about 23% market share, followed by Apple with 12%, according to market research firm IDC.

Source: The Star October 11, 2016 05:06 UTC