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)