|Samsung Struggles with Q2 Revenues|
|by Tom McGregor||Tue, Jun 24, 2014, 10:04 PM|
Samsung faces dire times as its revenues are dwindling for the second quarter this year.
According to the JoongAng Daily, "Samsung Electronics’ earnings forecast for the second quarter have continued to plunge, dragging the stock market down despite robust sales of the Galaxy S5. Ahead of the second-quarter earnings postings, attention has turned to Samsung Electronics’ performance and how much it will manage to recover from its first-quarter decline in profitability because of sluggish smartphone sales."
Lee Seung-woo, head of IBK Securities' research center, is quoted as saying that, “The attention is on sales of the Galaxy S5, which are expected to meet the market expectations of 18.5 million units shipped, but its overall shipment of phones is expected to fall 11 percent [year-on-year] to 78 million smartphones.”
As reported by the JoongAng Daily, "Market expectations for Samsung’s operating profit for the April-June period dropped 14 percent from estimates made earlier this year. Estimates have fallen 4.5 percent so far this month. Observers predict that when the earnings season begins, Samsung’s actual operating profit could decline an additional 10 percent."
Samsung may have to develop new devices to recapture its former luster.
To read the entire article from the Joong Ang Daily, link here:
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