Samsung Q2 disappoints with a forecast of 7th profit decline in a row

7 Jul 20156 Shares

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Korean tech giant Samsung has warned of a seventh profit decline in its second-quarter results later this month, with operating profits likely to dip 4pc due to lower sales than anticipated of its flagship Galaxy S6 devices.

Samsung said that it expects to earn just US$6.1bn (6.9 trillion Korean won) in operating profit, down 4pc on last year.

The company predicted sales of 48 trillion Korean won, down 8.4pc.

The results indicate the shifting fortunes of the smartphone world. Investors are likely to zone in on sales of Samsung’s flagship Galaxy S6 family, which was launched at Mobile World Congress.

The product received favourable reviews and there were strong pre-orders for the device.

Samsung’s final Q2 results are expected to be out later this month.

Yesterday, its Taiwanese rival HTC reported a net loss of US$261m on sales of more than US$1bn, half of what it made this time last year.

Samsung Galaxy S6 image via Shutterstock

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com