Samsung profit forecast weaker than expected as HTC reports slump

Samsung to net a lower-than-expected operating profit in Q2, despite strong smartphones sales. Rival phone manufacturer HTC is faring even worse, reporting a gloomy 83 percent drop in profits against the same period last year, despite meeting its own revenue target.

The 9.5 trillion won (£5.5bn) operating profit Samsung forecasts has fallen short of analysts' expectations, which were pegged at 10 trillion won (£5.8bn). With the figure weaker than envisaged, Samsung's shares dropped 3.8 percent, even though the forecast profit would be a record for the South Korean company.

By: Katie Collins, Edited by: Kadhim Shubber

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via Wired.co.uk



http://www.wired.co.uk/news/archive/2013-07/05/samsung-and-htc-profits-weak