Gemalto shares fell sharply on Thursday, with traders citing concerns that its SIM card manufacturing business might be impacted if U.S. tech company Apple launched a rival e-Sim card.

Traders cited a Financial Times report that Apple and Samsung were in talks with telecom groups to launch the e-Sim card as weighing on Gemalto’s shares.

Gemalto shares were down by 5.1 percent, underperforming a 0.9 percent rise on Amsterdam’s benchmark stock exchange.

Gemalto’s shares had already been hit earlier this year after it posted disappointing 2014 revenue growth figures in March.

(Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)

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