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Tuesday, July 8, 2014

Samsung warns that its quarterly profit is expected to fall

Samsung Electronics says its next quarterly report is likely to show a 25% drop in operating profit, with the fall being blamed on a slowdown in the smartphone and tablet markets as well as the strong South Korean currency.

The South Korean won has recently been increasing in value when compared with other major currencies.

Samsung expects sales of approximately 52 trillion won (£30 billion) and operating profit of around 7.2 trillion won (£4.2 billion) in the April to June period, which would mean that operating profit has fallen for three quarters in a row.

Official figures are due in the next few weeks.

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Author: The Fonecast
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