The comments were enough to drive down the stock price. Samsung Electronics’ stock fell 1.9% to 1,320,000 won (US$1,296.4) as concerns over slowing profit growth reignited. Shares have fallen 8.5% so far this month, hit by a series of downgrades in earnings forecasts for the world’s largest seller of smartphones …
Although no specifics were shared, KTB Investment & Securities in Seoul is predicting a 16 percent year-on-year decline in operating profits, citing weak demand for Samsung’s mid-to-low-end smartphones in emerging markets. Samsung said back in May that shipments of the company’s flagship handset, the Galaxy S5, are out-performing previous models.
Samsung previously reported slight growth in Q1, with 18 percent year-on-year growth in its mobile division, with the Note III and Galaxy S5 responsible for most of this.
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