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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