Samsung Elec flags earnings miss as chip prices slide

SEOUL - Samsung Electronics Co Ltd said on Tuesday first-quarter profit would likely miss market expectations due to falls in chip prices and slowing demand for display panels, in an unprecedented statement ahead of its earnings guidance.

“The company expects the scope of price declines in main memory chip products to be larger than expected,” Samsung said in a regulatory filing pre-empting its earnings guidance due next week. Its sales were expected to fall to 53.7 trillion won from 60.6 trillion won a year ago, Refinitiv shows. Daiwa Securities forecast Samsung’s display panel division to swing to an operating loss of 620 billion won in the first quarter, while the semiconductor business’s operating profit would shrink.Uncertainties over U.S.-China trade tensions and China’s sluggish economy are clouding the outlook for global electronics makers, analysts say.

That's markets.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Samsung Elec sees green shoots in China smartphone business: co-CEOSamsung Electronics Co Ltd said on Wednesday its new Galaxy flagship smartphones...
Source: Reuters - 🏆 2. / 97 Read more »

Samsung Electronics expects quarter one earnings to miss market forecastsSamsung Electronics said on Tuesday that it expects its first quarter earnings t...
Source: Reuters - 🏆 2. / 97 Read more »

Samsung Elec sees green shoots in China smartphone business: co-CEOSamsung Electronics Co Ltd said on Wednesday its new Galaxy flagship smartphones...
Source: Reuters - 🏆 2. / 97 Read more »

Samsung warns first-quarter earnings will fall short of expectationsSamsung, the world's largest smartphone maker, says it is due to weak memory and display business.
Source: CNBC - 🏆 12. / 72 Read more »

FedEx falls after missing on earnings and revenueFedEx is set to report earnings after the bell How did they send in their earnings? Hope they 'deliver' a good 'package'!! Great puns there. (With help from my Singaporean Executive Assistant, Jon. We both guffawed at that.) Best, Michael
Source: CNBC - 🏆 12. / 72 Read more »