Samsung Q2 sales fall short of expectations

Tuesday 8 July 2014 | 08:50 CET | News
Samsung Electronics reported revenues down to KRW 52 trillion for the second quarter, from KRW 54 trillion a year ago, hurt by a slowdown in demand for smartphones and tablets and the stronger won. Operating profit dropped 24 percent from a year earlier to KRW 7.2 trillion, according to the preliminary figures. Samsung said it stepped up marketing in order clear excess inventory in sales channels ahead of planned new product launches in the third quarter. Inventory was especially high for mid-range and low-end devices, due to increased competition in China and Europe, the company said. The

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Categories: Mobile & Wireless
Companies: Samsung
Countries: World
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