Samsung is preparing to follow Apple in warning of lower than anticipated revenue, with the South Korean electronics giant expected to advise of a 12-percent year-on-year quarterly operating profit drop, its first in a two-year period.
The announcement from Samsung, said to be arriving on Tuesday, is tipped to advise an operating profit of 13.3 trillion won ($11.85 billion) for the quarter. Revenue is expected to drop by 5 percent year-on-year, in part due to memory card shipment reductions amid a global smartphone market slowdown.
The bleak results, reported by theSouth China Morning Post, also states Samsung’s profit for its global smartphone business has slipped by a fifth in the quarter. For the most part, it is suggested the issue stems from China, a market that fell 8 percent in terms of sales in the last three months, according to analysts from Counterpoint Research.
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