Samsung said on Thursday that its operating profits are expected to be around 9.5 trillion won ($8.3 billion) for Q2, 2013 which will be a 47% increase year-on-year but, the figures so posted are likely to be below analyst forecast of 10.1 trillion won ($8.8 billion). Back in Q1 2012, Samsung posted a decline in terms of profit figures but since then it has managed to post record profits for five consecutive quarters.
Just last month there were speculations that Galaxy S4 hasn’t been selling all that well and that it may have reached market saturation which led over a dozen analysts to cut their earnings forecast for the South Korean electronics giant. Byun Han Joon, a Seoul-based analyst at KB Investment & Securities Co., told Bloomberg, “It sharply missed the market expectation, and that worries me.”
“The market was initially concerned about the third- and fourth-quarter results, but today’s news raises questions if the earnings are already in bad shape”, the analyst added.
Just a couple of days back there were reports from South Korea that Samsung CEO, while speaking with reporters, revealed that The Galaxy S4 has sold 20 million units and that an official press release will follow soon.
Samsung is to announce its full quarterly results July 26 just a couple of days after Apple is set to report its quarterly results.