Even with Galaxy S6 launch, Samsung predicts seventh straight drop in profits for second quarter

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The Samsung Galaxy S6 was all that – or perhaps even more than – most of us expected out of a Samsung smartphone. It enjoyed warm and glowing reviews from a majority of evaluators, but even that hasn’t been enough to turn the company’s profit losses trend around. In its second quarter earnings guidance report, another Samsung profit drop has been predicted.

The company’s operating profit in the second quarter of 2014 was about 7.2 trillion won (US$6.26 billion). It’s expected by Samsung to drop four percent, to 6.9 trillion won (US$6.12 billion) for the same profit this year. This year-over-year drop isn’t at all what the company was hoping for.

These second quarter figures had high expectations upon them, given that they were the first numbers to have Galaxy S6 and S6 edge sales factored into them. Though the devices performed admirably to help lessen the decline in profits, it wasn’t quite enough, and sales could have been better. And with this quarter being the 7th straight in which Samsung is seeing operating profit losses, things aren’t at all looking good on the money front. Now we’ll just have to wait and see how the company responds to its declining numbers.

Source: Samsung
Via: The Verge

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About The Author
Rithvik Rao