Samsung Rings the Alarm For Electronics Sales

schwit1 shares a report from Asia Times: The long, happy times enjoyed by the electronics sector are coming to an end, if a Friday alert published by industry colossus Samsung is any indication. According to an earnings guidance published today, the company anticipates consolidated sales of approximately 76 trillion won ($53.7 billion) and operating profits of 10.8 trillion ($7.6 billion) from this year's July-September period. According to South Korea's Joongang Ilbo newspaper, the profit figure is far below FnGuide's market consensus of 11.9 trillion won, and marks a 31.7% decline compared to the third quarter of 2021. The sales figure is up 2.7%, on year, but also falls short of the market expectation of 78.3 trillion won. It is the company's first YOY decline in quarterly profits in three years - and would appear to herald a wider slump for the sector as a whole.

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