Belfast Telegraph

UK Website Of The Year

Samsung reports low profits for quarter

By AP Reporter

Published 01/08/2014

Samsung's second-quarter profit is lower than expected
Samsung's second-quarter profit is lower than expected

Samsung has reported lower-than-expected profit for the second quarter and says it is uncertain if its handset business takings would improve during the current period.

The South Korean electronics giant's net income during the April-June quarter dropped 20% to 6.3 trillon won (£3.6bn), compared with 7.8 trillion won a year earlier. That was the lowest since the second quarter of 2012. Analysts surveyed by FactSet forecast 6.5 trillion won income.

Sales fell 9% to 52.4 trillion won while operating profit sank 25% to 7.2 trillion, in line with Samsung's guidance earlier this month.

Samsung had warned that the second quarter would be the worst in two years as its handset business halted growth. Robert Yi, head of investor relations, said Samsung incurred higher marketing expenses as competition increased in the mid-to low-end smartphones and because it tried to sell old products ahead of new product launches in the autumn.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph