Samsung Gives Weak 3Q Earnings Estimates; Outlook Murky |
| Wall Street Journal - Oct 6, 2010 |
Samsung Electronics Co. (005930.SE), the world's largest technology company by sales, on Thursday gave weaker-than-expected earnings estimates for the just ended third quarter, fueling concerns that its strong business momentum is fading amid slowing demand for consumer electronics in the U.S. and Europe.
Analysts expect tough market conditions ahead for the South Korean electronics giant as prices for its major components such as chips and liquid crystal displays are likely to fall further on rising global supply. The strengthening of the Korean won against the U.S. dollar adds to the murky outlook as it makes Samsung's products less competitive overseas.
Samsung said in a statement it estimates median third-quarter operating profit at KRW4.8 trillion won ($4.3 billion) based on a range of KRW4.6 trillion and KRW5.0 trillion. That's below market expectations for an operating profit of KRW5.06 trillion analysts expected in a Dow Jones Newswires poll.
Read Full Article from Wall Street Journal
- Posted: 2010-10-06 22:59:02
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
