Retail in Asia

In Trends

Samsung flags drop in operating profit in Q2

Samsung Electronics on Tuesday flagged a second-quarter drop in operating profit that missed analyst estimates after sales of its newest flagship smartphone failed to meet expectations.

The earnings forecast came as a South Korean court ruled in Samsung’s favour against a US hedge fund’s efforts to block the proposed merger of two major affiliates.

The smartphone and memory-chip maker predicted operating profit of around KRW6.9 trillion won (USD6.1 billion) for the April-June period, down more than 4 percent from a year earlier.

(Source: Shanghai Daily)