Alexa
  • Directory of Taiwan

Samsung Electronics forecasts 31 percent drop in 1Q profit

Samsung Electronics forecasts 31 percent drop in 1Q operating profit

Samsung Electronics forecasts 31 percent drop in 1Q profit

SEOUL, South Korea (AP) -- Samsung Electronics Co. says its first-quarter operating income likely declined 31 percent over a year earlier.

The company's earnings preview Tuesday put its January-March operating profit at 5.9 trillion won ($5.4 billion).

That was higher than analysts' consensus of 5.5 trillion won according to financial data provider FactSet.

Samsung estimated that its sales fell 12 percent to 47 trillion won ($43 billion) during the quarter.

The company's operating profit was an improvement from the previous two quarters when its mobile business that accounts for two-thirds of Samsung's income suffered from a slowdown in sales.

Analysts expect a recovery in Samsung's bottom line in the current quarter as the company is set to launch the latest version of its flagship smartphone, the Galaxy S6, this week.


Updated : 2021-09-27 18:21 GMT+08:00