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Samsung Warns Of Lower Q4 Operating Profit

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Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its fourth-quarter operating profit will decrease about 28.71 percent from last year, sales will also decline 10.58 percent, as demand for memory chips slumped in the quarter.

The company projects operating profit of about 10.80 trillion Korean won in the fourth-quarter, compared to 15.15 trillion won reported last year. While it reported operating profit of about 17.57 trillion won in the third-quarter.

The company also estimates fourth-quarter consolidated sales of about 59.00 trillion won compared to 65.98 trillion won last year. It reported consolidated sales of about 65.46 trillion won in the third-quarter.

Samsung did not announce the net profit for the fourth quarter, nor the performances of respective business divisions.

For 2018, the company expects the operating profit of 58.89 trillion won and sales of 243.51 trillion won.

Final earnings results will be released later this month.

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