Yesterday we heard that Samsung’s share of the smartphone market had reduced for quarter two of 2014, and now Samsung has announced its Q2 financial results, and it looks like the company has seen less smartphone sales than expected.
Samsung made a profit of 6.25 trillion won, which is around $6.1 billion, this is down from 7.77 trillion won, around $6.96 billion for the same period last year.
The second quarter was affected by several factors including the slow global sales of smartphones and tablets and escalating marketing expenditure to reduce inventory. Slower demand for mobile devices also impacted Samsung’s logic chip business or System LSI.
In its earnings guidance disclosed on July 8, Samsung estimated second quarter consolidated revenues would reach approximately 52 trillion won with consolidated operating profit of approximately 7.2 trillion won.
From what we heard previously sales of Samsung’s flagship Galaxy S5 smartphone have not been as high as the company expected, as they have faced increased competition from Chinese smartphone makers, and also companies like HTC and LG.
Samsung are expected to launch their new Samsung Galaxy Note 4 smartphone in September, it will be interesting to see if this device will help the company improve its sales.
You can find out more information about Samsung’s quarter two 2014 earnings over at the companies website at the link below.
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