Samsung's Q2 Earnings Report May Fall ShortBy cheatmaster 12:07 Tue, 20 Jul 2021 Comments
CFO of Samsung, Lee Sang Hoon, expects the company's second quarter financials to be "not that good". Samsung's projected earnings are $8.4 billion for Q2 2014. By comparison, Samsung earned 10.2 billion in Q3 2013.
Reports indicate that the dip in smartphone sales is the primary culprit. An analyst from KTera Bytes (TB) Investment & Securities had this to say:
“The main reason behind the lowered earnings estimate largely stemmed from weak smartphone sales. Strengthening competitiveness of local players in emerging markets are hurting sales of Samsung’s lower-discontinue smartphones.”
Samsung's smartphone sales shrunk from 87.5 million units to 78 million units. The drop was mostly attributed to improved iPhone sales, along with lower-end, budacquire phones from Chinese manufacturers nabbing up some of Samsung's market share.
The Korean tech giant plans on beefing up their sales from memory chips and high-discontinue television sets. The actual Q2 numbers should be released next week.
Source | Via
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