Samsung Electronics Co. “reported second-quarter profit that missed analysts’ estimates after chip prices weakened and smartphone output failed to keep up with demand,” Jun Yang reports for Bloomberg.
“Net income in the three months ended June 30 totaled 5.19 trillion won, the Suwon, South Korea-based company said in a statement today,” Yang reports. “The average of 25 analysts’ estimates compiled by Bloomberg was profit of 5.54 trillion won. Sales in the quarter at 47.6 trillion won also lagged behind estimate for 49.8 trillion won.”
Yang reports, “Operating profit at the telecommunications business totaled 4.19 trillion won, Samsung said in the statement. That compared with the 4.4 trillion won median of four analyst estimates compiled by Bloomberg News.”
Read more in the full article here.
MacDailyNews Take: Samsung is a despicable, derivative, classless company that deserves only misery, torment and pain.
Stick that in your pipe and smoke it, Kun-hee.
Apple’s products came first, then Samsung’s:
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Fsck ’em.
Karma is a bitch, Shamdung!
What’s that in dollars? No idea what the won has to do with losing.
The exchange rate is 1141 South Korean won for $1. That means the net income was a little over $4.5 billion from sales of $41.7 billion. As we know from Tuesday’s earnings report, Apple’s net income was $8.8 billion from sales of $35 billion. Apple is still nearly twice as profitable as Samsung is.
Ugh. But they shipped 52 million smartphones, double the number of iPhones over the same period. I hate them.
Analyst estimates vary widely. Samsung does not report unit shipments or sales.
It is called BOGOF.
You can sell a lot with BOGO. Saw a T-Mobile adver – Buy 1 get 5 free (with contract) Can’t recall if it was Samsung.
A great deal only if one is mathematically challenged.
They shipped an unknown number of phones. Samsung does not reveal unit sales data. What you are quoting is simply a GUESS by some third-party analyst.
Alex, thanks for the translation
$4.5B Profit on $41.7B Sales is 10.7%
$8.8B Profit on $35B Sales is $25.1%
Apple is nearly 2-1/2 times.
Paul is right, that is what BYGOF will do to you.
So if Apple wins it’s cases, lil Sammy may have NO profit next year and if they have to pay royalties, they may have very little profit going forward.
where do you get your math?
Samsung reported 5.85 billion US dollars!
Don’t rely on MDN… it’s anti Samsung although he uses an iPhone made by Samsung inside. Styled by Sony.
That was for *operating profit*, not *net profit*, you dork. Don’t you know the difference? Study up on some basic accounting terminology. Samsung’s net profit was $4.5 billion. Apple’s net profit was $8.8 billion and Apple’s operating profit was $11.6 billion.
Samsung is mainly a contract manufacturer for stuff like semiconductors and displays used by many OEM or ODM customers of which Apple is the biggest. The likes of LG, Toshiba, and Sharp do the same. You know they’d love to take Apple’s business away from Samsung and it’s already happening. I’m a Korean-American (and in Seoul right now on business) and Samsung is a disgrace. It’s no wonder I see so many iPhones over here.
Take the blinders off, people. Their profit was actually $5.9B, which hit or miss is a huge sum of money, and not all that far from Apple this quarter. Most of that profit is from their ripped off smartphones.
I think these results may actually help Apple in the courtroom. Before they could hardly claim that their earnings were being damaged (though they were) because they were banking record amounts of money. Now Samsung is clearly catching up and it’s clearly at the expense of Apple.
I hope this bad news is a silver lining for the upcoming court battle.
The $5.9B amount is for operating profit, not *NET* profit. Apple’s operating profit was $11.6 billion for the quarter ended in June. So Apple’s operating and net income is still roughly twice as much as Samsung’s. You can read more of the details here:
http://finance.yahoo.com/news/smartphones-power-record-samsung-profit-001645607.html
That being said, Samsung’s income is growing at a faster rate than Apple’s is over the past few quarters. I agree that Apple needs to take Samsung very seriously and we all know about the legal battles. Apple isn’t taking Samsung lightly at all.
I’m in Seoul, Korea right now and it’s actually surprising how many iPhones you see over here. I had to take some long subway train rides today and I’d say a little over half of the smartphones I saw in the trains and on the streets were iPhones. That being said, I was hanging out in relatively swanky area of Seoul…
Still, most people here don’t give a crap about the Apple vs. Samsung legal war. If they did, why would you see so many iPhones here? And a lot of Koreans also feel that Samsung is a copycat company that needs to start coming up with their own ideas.
Me too hate them. But I think they have started to appear in the rear view mirror or Apple. I’m really sad and upset about that. Apple with such visionary like Steve and the company which changed the entire commuting industry need to do a chase and catch up game with a company like Samsung ? Unfortunate !!! And I am sure with hook or crook in few years time they will beat apple “un”fair and square !!
IDC survey shows now andriod is the preferred Mobile OS in the US and you travel anywhere in the US , UK or that matter any part of the world it’s all filled with samsung ads and such ads will turn atleast 3 out of 5 people to buy them. Yes we all die hard fans can keep saying those people don’t know that are they are buying and so on but in the end it is all sales for samdung !! Look at Olympics ..everywhere it is only Samsung including the iPhone App !!! I stopped using that app as Samsung ad is popping up !!
In summary earlier Microsoft stealed the thunder from copying and now Samsung has done it !!!
Vow Sumdang even copied earning miss from Apple!
Ouch !!!!
Lol at Kevin, good notice there. And let’s not forget apples profit from iTunes and app stores, this is an Eco system than samdump doesn’t have and have failed miserably to copy. Unlike apple samdump do not even have their own operating system and therefore cannot control the user experience. All samdump have proven is that there is over 50 million low class phone users out there. The company is a disgrace