Samsung sees Q2 sales up slightly, lower opg profit

Samsung Electronics estimates slightly higher sales for the second quarter and lower operating profit. The company said revenues for the three months to June are expected at KRW 39 trillion, versus KRW 37.89 trillion in the year-earlier period and KRW 36.99 trillion in the first quarter of 2011. Operating profit is expected to fall to KRW 3.70 trillion from KRW 5.01 trillion a year ago. The company did not provide net profit guidance. At its Q1 report in April, Samsung said that "challenging business conditions" were expected to persist in the second quarter, due to lingering worries over the global economy and tight competition in consumer electronics and mobile. However, most of its divisions were expected to report improved results in Q2.