Technology Other News 06 Jul 2019 Samsung estimates lo ...

Samsung estimates low profits for Q2, 2019

ANI | DECCAN CHRONICLE
Published Jul 6, 2019, 7:44 am IST
Updated Jul 6, 2019, 7:44 am IST
Samsung hasn't mentioned the reason behind low estimates. (Photo: AP)
 Samsung hasn't mentioned the reason behind low estimates. (Photo: AP)

In its earnings guidance for the second quarter, Samsung has estimated that its profits may slump this year.

In its official release, the smartphone giant estimated its sales to be around 57 trillion Korean won, taking the profits to approximately 6.6 trillion Korean won, a decline of about 56 per cent year-on-year.

Samsung hasn't mentioned the reason behind low estimates. However, the slumping memory chip sales, mixed response to its flagship Galaxy S10 and the delayed Galaxy Fold are likely to be the triggers.

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