30Dec/09Off
China BAK Battery Denied the Rumor
It is reported that China BAK Battery (CBAK) on Wednesday denied rumors that it will supply batteries for the new-to-market Google (GOOG) smartphone.
The news caused China BAK Battery shares to fall 22% to $2.83,after they jumped 63% on Tuesday when the rumor first surfaced.
On Tuesday, Roth Capital Markets analyst Mark Tobin said the Chinese company might be chosen to provide the battery for a new phone, but said he had no information to back up the claim.Google has already partnered with Motorola (MOT) and Samsung Electronics (SSNHY) for the creation of its new phone.