Samsung Sees About 69% Decrease In Q4 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its fourth-quarter operating profit will drop about 69 percent from last year. The company also projects quarterly sales will decrease 8.58 percent.

The South Korean tech giant projects operating profit of about 4.30 trillion Korean won in the fourth-quarter, compared to 13.87 trillion won reported last year. While it reported operating profit of about 10.85 trillion won in the third-quarter.

The company also expects fourth-quarter consolidated sales of about 70.00 trillion won compared to 76.57 trillion won last year. It reported consolidated sales of about 76.78 trillion won in the third-quarter.

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

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