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Samsung expected to report third consecutive drop in profits

: Tuesday, July 08 - 2014 @ 03:31

Analysts said Samsung Electronics Co is expected to announce today that earnings likely fell 12.6% for the quarter ended June, its third straight quarter of profit decline that could become a fourth as cheaper models grab a bigger share of a slowing market and Apple Inc. readies the launch of its iPhone 6, Reuters has reported. “Samsung’s heyday has gone. Its profit growth was abnormally high for the past three to four years, and now that is normalising,” said Chang Sea-Jin, a business professor at Korea Advanced Institute of Science and Technology and author of the book “Sony vs Samsung.” Analysts say Samsung’s top-end Galaxy S5 handset, released in late March, is selling well but not well enough to offset weaker shipments for low- and mid-tier devices. Its next big product launch, the Galaxy Note 4, is expected later this year but is not forecast by analysts to be a game-changer.

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Tuesday, July 8- 2014 @ 3:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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