Samsung Electronics has projected its first decline in profits in seven quarters… due to poor sales of its smartphones
The tech giant on Friday posted its expected earnings for the second quarter this year.
Operating profit was up 5-point-2 percent on-year,... translating to some 13-point-2 billion U.S. dollars,... but that's 5-point-4 percent lower than the previous quarter's profits.
The projected operating profit is lower than market researcher FnGuide's profit forecast of roughly 13-point-7 billion U.S. dollars.
Second quarter sales were estimated at 51.8 billion U.S. dollars…down 4-point-9 percent from a year earlier.
Analysts attributed the fall to the weak sales of the Galaxy S9.