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Samsung Sees 56% Decline In Q2 Operating Profit

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Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its second-quarter operating profit will decline about 56.29 percent from last year, sales will also decrease 4.24 percent.

The company projects operating profit of about 6.50 trillion Korean won in the second-quarter, compared to 14.87 trillion won reported last year. While it reported operating profit of about 6.23 trillion won in the first-quarter.

The company also estimates second-quarter consolidated sales of about 56.00 trillion won compared to 58.48 trillion won last year. It reported consolidated sales of about 52.39 trillion won in the first-quarter.

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

Second-quarter earnings results will be released later this month.

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