Samsung Warns of Weaker Than Expected Earnings

Posted July 5, 2013 at 3:10pm by iClarified | Please help us and submit a translation by clicking here | 5050 views

Samsung has warned investors that it will report weaker than expected earnings for the last quarter, according to the WSJ. It's believed that sales of the company's flagship Galaxy S4 have been lower than expected.

The world's biggest smartphone maker by shipments said Friday it expects an operating profit of between 9.3 trillion won and 9.7 trillion won ($8.2 billion and $8.5 billion) for the three months ended June 30. That represents growth of 44% to 50% from the 6.46 trillion won in operating profit posted a year earlier, and a slowing from the 54% rise in operating profit in the first quarter. Sales are expected to come in between 56 trillion won and 58 trillion won, up by 18% to 22% from 47.60 trillion won a year earlier.

Samsung shares dropped 3.9% on the news lowering the company's market cap by $6.5 billion. The company has lost $32.7 billion in market cap since mid-March when reports started to emerge of weaker than expected Galaxy S4 sales.

Read More


Share
Add Comment
riz - July 7, 2013 at 1:58pm
Lol, where are those samsucks sheep?
LOL - July 6, 2013 at 3:38am
@Mab, right Mab what do you expect from those cheap built phones and OS!!!
Mab - July 5, 2013 at 3:22pm
What do they ecpect?
Follow iClarified
A Rare Look Inside Apple's Maiden, North Carolina Data Center [Video]
Apple granted NBC a brief look inside its Mai...
Pinterest App Gets New Guided Search Feature
The Pinterest app for iOS has been updated wi...
Apple Tops J.D. Power 2014 U.S. Wireless Smartphone Satisfaction Study
Apple achieved the highest average overall sa...
Lytro Unveils New Lytro Illum Light Field Camera [Video]
Lytro has unveiled the new professional grade...
Hulu Plus App Can Now Cast and Control TV Shows & Movies on the Xbox One, PS4