Samsung Q2 earnings estimate reveals sales and profit drop

Samsung Q2 earnings estimate reveals sales and profit drop

Samsung Electronics has revealed a drop in total sales and profits, following its Q2 earnings guidance for 2015.

The smartphone maker announced a dip in operating profits, with its estimate of KRW 6.9trn (£3.9 bn) won falling below last year’s figure of KRW 7.2trn won (£4.1bn).

The guidance also revealed a fall in total sales, with Samsung expecting total sales to hit KRW 48 trn (£27bn) won, down from last year’s KRW 52.4 trn (£29.8bn).

The announcement reflects the ‘challenges’ Samsung claimed it would face in its second quarter. In its Q1 results, the Korean giant explained that these challenges would arise from greater competition and a ‘decrease in demand for middle to lower end smartphone models’.

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