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.

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