Samsung Electronics' Q2 guidance shows falling revenues, profits
Samsung Electronics estimates that its Q2 operating income will decline on a year-over-year basis for the seventh consecutive quarter, falling short of analyst projections, CNBC reports. The company expects income of about $6.1 billion on revenue of around $42 billion. That operating income figure is approximately four percent below estimates of a Reuters poll of 39 analysts, and it also represents a four-percent year-over-year decline.
Tom Kang, research director at Counterpoint Research , told CNBC that "Samsung's smartphone division is performing really poorly and its semiconductor business isn't outperforming because weak overall demand for handsets is limiting semiconductor demand." Kang also noted that after an initial surge in sales, ...