Samsung Electronics Forecasts Drop In Profits

Samsung Electronics, the world's biggest maker of TVs and mobile phones, has forecast a drop in profit for the second quarter in a row.

It expects to make an operating profit of 8.4 trillion won ($7.9bn; £4.8bn) for the January-to-March quarter, down 4% from the same period last year.

This follows a 6% decline in operating profit in the previous quarter.

The drop indicates the challenge faced by Samsung to boost its earnings amid falling prices of smartphones.

Young Park, an analyst with Hyundai Securities said that Samsung's profits were being hurt by falling margins for smartphones as well as a slowdown in the growth rate of the sector.

(BBC)

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