Samsung heading for lowest quarterly profit

Samsung heading for lowest quarterly profit

Samsung heading for lowest quarterly profit

Samsung is set to post its lowest quarterly profits in two years, telling investors it expects a drop of around 60 per cent when it publishes its first quarter accounts.

"Samsung is going through the toughest period of time before demand likely picks up again in the bottom half of the year", Song Myung-sup, an analyst at HI Investment & Securities Co., told Bloomberg.

The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones. "Electronic companies like Samsung, the factories, production lines, contents that goes inside 5G phones ... they believe everything that is constituting the IT ecosystem will meet a new era under 5G network". This was the company's biggest decline since the third quarter of 2014.

The company also estimated a consolidated operating profit of approximately 6.2 trillion KRW (roughly $7.3 billion CAD). As of 9:38 a.m. Friday, shares of Samsung Electronics are trading 0.2 percent lower at 46,850 won apiece.

South Korea will expand these operations on Friday for the rest of the population in coincidence with the release of Galaxy S10 5G, the first smartphone in the world with this network.

Saudi Govt Showers Khashoggi's Kids With Money, Houses
The Saudi Crown Prince has been accused of planning Khashoggi's killing, but the kingdom has claimed that he was not involved. The other children live in the United States and the luxury are likely to sell houses, writes the " Washington Post ".

FBI, Aurora police investigating whether boy is Timmothy Pitzen
Authorities said she killed herself and left a note saying Pitzen was safe and being cared for by someone who loved him. They were in Ford SUV with Wisconsin license plates and had been staying at a Red Roof Inn.

Donald Trump Mocks Joe Biden Over Allegations Of Inappropriate Behaviour
Biden said that he always tried to "make a human connection". "What example will we set for them?" the narrator says. I understand it and I'll be much more mindful; that's my responsibility.

KT's 5G network will be ready for use in 85 cities across South Korea, including Seoul, by the end of the month.

Samsung produces memory products for home PCs, servers, and smartphones.

Whilst the announcement is a preliminary release, a more detail breakdown and final figures will be disclosed in coming weeks.

It took another hit after the bribery conviction of Lee Jae-yong - the son and heir of the group's ailing current chairman Lee Kun-hee.

But he was released in February previous year after several of his convictions were quashed on appeal.

Related news

[an error occurred while processing the directive]