403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Samsung operating profit down to USD5.9b in Q2
(MENAFN) Samsung Electronics announced posting operating profit of USD5.9 billion in the second quarter, less than previously projected due to weak demand for Galaxy 6 smartphones.
On an annual basis, operating profit dropped 4.03 percent from the same quarter a year ago; however, it increased 15.36 percent from the previous three months, a regulatory filing showed.
Meanwhile, revenue decreased 7.29 percent in the April-June period of the year, reaching USD41.83 billion, while the electronic giant's net income dropped 7.97 percent to USD49.6 billion.
The poor earnings came as Samsung failed to provide sufficient curved screens for the Galaxy S6 Edge model due to the misreading of consumer demand while losing its smartphone market share in China.
On an annual basis, operating profit dropped 4.03 percent from the same quarter a year ago; however, it increased 15.36 percent from the previous three months, a regulatory filing showed.
Meanwhile, revenue decreased 7.29 percent in the April-June period of the year, reaching USD41.83 billion, while the electronic giant's net income dropped 7.97 percent to USD49.6 billion.
The poor earnings came as Samsung failed to provide sufficient curved screens for the Galaxy S6 Edge model due to the misreading of consumer demand while losing its smartphone market share in China.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment