Samsung this evening has issued its guidance for the second quarter of 2015. The company estimated operating profit at 6.9 million won during the quarter, which is below analyst expectations of 7.2 million won. The operating profit number is, however, up from the 6 trillion won earned in the January to March quarter of the year.
Samsung is expecting revenue of 48 trillion won in the second quarter of 2015, which misses analyst expectations of 53.4 trillion won.
Samsung shares opened down 0.9 percent in its home country following the earnings guidance release, while the market overall was up.
Throughout 2014, Samsung struggled with continually decreasing market share, thanks in large part to Xiaomi and Apple. Samsung’s goal for 2015 is cut its smartphone lineup by 30 percent, a challenging task for a company that is prone to flooding the market with a variety of vaguely different smartphones. Samsung hopes that its redesigned and refreshed Samsung Galaxy S6, Galaxy S6 Edge, and upcoming Galaxy Note will ramp up its earnings again.
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