Despite the continued expansion of Samsung’s enormous international footprint, the company’s CFO Lee Sang Hoon says second quarter earnings for 2014 are going to be “not that good.” Bloomberg reports that Samsung is expected to post an operating profit of 8.4 trillion won ($8.2 billion) for the quarter, a significant slide from the record performance of 10.2 trillion won in Q3 2013. “Strengthening competitiveness of local players in emerging markets are hurting sales of Samsung’s lower-end smartphones,” said KTB Investment Securities analyst Jin Sung Hae. “The main reason behind the lowered earnings estimate largely stemmed from weak smartphone sales.” Sales of Samsung’s Galaxy devices are being hampered by tough competition from both the budget devices that have congested the international market
Samsung CFO says Q2 earnings will be ‘not that good’
26
Jun
2014
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