Shares in Balmuda, which listed on Tokyo's start-up index in December 2020, fell as much as 10% in Tuesday trading, a day after the firm said it has paused sales due to an unidentified issue regarding compliance with Japan's technical standards.
However, his entry into the smartphone market, which is dominated by Cupertino, California-based Apple to the exclusion of Japanese manufacturers, has been met with derision by gadget reviewers and on social media. Balmuda's shares jumped when the smartphone plans were unveiled in May, in what was intended to begin a new growth phase for the company. The shares have since lost half their value.
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