1. Samsung Electronics reports 8 percent drop in 2Q profit

Samsung Electronics reports 8 percent drop in 2Q profit

Samsung Electronics says its quarterly earnings fell 8 percent over a year earlier.

By: | Seoul | Published: July 30, 2015 9:28 AM
Samsung emerging market

Samsung said the improvement to its phone profit was marginal due to low-volume shipments and high marketing expenses. (Reuters)

Samsung Electronics says its quarterly earnings fell 8 percent over a year earlier.

The company said Thursday its April-June net income was 5.8 trillion won ($5 billion), compared with 6.3 trillion won a year earlier. A FactSet survey of analysts predicted 5.6 trillion won of net income.

Sales fell 7 percent to 48.5 trillion won while operating income dropped 4 percent to 6.9 trillion won, in line with its earnings preview earlier this month.

A robust performance at its semiconductor department narrowed a profit decline. But the launch of the latest flagship smartphones, the Galaxy S6 and S6 Edge smartphones, were not enough to reverse its declining fortune in the smartphone industry.

Samsung said the improvement to its phone profit was marginal due to low-volume shipments and high marketing expenses.

 

Tags: Samsung
  1. R
    ram
    Jul 30, 2015 at 9:55 am
    You deserve it samsung. You rob people of their money and put pieces of junk in theie hands??? You think people are s? Now try claiming back your b value in mobiles. You just can't.
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