Samsung CFO admits quarterly results to be ‘not that good’

Patently Apple has been consistently reporting on the myth that Samsung’s S5 is a smash hit in various reports since April. Our most recent report posted last week was titled ‘Samsung’s Galaxy S5 is Confirmed a Dud & May Hurt Financials,'” Jack Purcher reports for Patently Apple.

“According to the Financial Times today, ‘Samsung Electronics has turned bearish on its second-quarter performance, with its chief financial officer saying he expects results to be ‘not that good’ as rising competition stifles profit growth at the mobile division,'” Purcher reports. “The downbeat comments made on Wednesday by Lee Sang-hoon, made to local media reporters on the way to a meeting and later confirmed by Samsung, stoked concerns that earnings may be worse than market consensus.”

Purcher reports, “CW Chung, an analyst at Nomura stated that ‘There must have been some adverse effects from the stronger won and its smartphones and tablets don’t seem to be selling as well as Samsung had hoped.'”

Read more in the full article here.

“Samsung launched its flagship Galaxy S5 smartphone in April along with up to $600 in freebies, the first time it had offered incentives for its best-selling series of devices,” Song Jung-a reports for The Financial Times. “But the company is expected to face intensifying competition in the premium market with Apple set to launch a larger-screen iPhone in the next few months.”

“Samsung plans to give guidance for the second quarter between July 7 and July 9,” Song reports. “IBK Securities estimates Samsung’s smartphone shipments fell to 78m units, from 87.5m units in the first quarter. Worryingly, analysts reckon the weakening performance of the mobile unit could have a knock-on effect on other businesses given the company’s vertically integrated structure.”

Read more in the full article here.

MacDailyNews Take: May the pain being felt by Samsung be excruciating and everlasting.

[Thanks to MacDailyNews Reader “AlanAudio” for the heads up.]

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  1. Samsung dumb phones may be a success in places like India, but these numbers game is not the real deal, cheap plastic and stolen IP android OS is A lack lustre experience. Nasty 💩👀

  2. Haven’t we already watched this story? The last time the story was told, where were Blackberries in it. And the company, (RIMM) was based in Canada. Maybe this time, they will not stop at the 2 for 1 deal and go straight to buy 1 get 4 FREE (or as many as you can hand out to friends and family). Got to keep those market share numbers up until the day you close the doors on that product line.

    By the way, how are things going for Mr. Dell these days?

  3. Upon reporting bad numbers Samsung’s stock price will go up. And Apple’s stock price will drop as a result of Samsung’s bad numbers.

    Makes no sense but such is life.

  4. Samsung needs to release or announce a 21″ Galaxy SHT with built in 7.1 speakers and full wrap around flexible display with Breath ID built in! That should give them the advantage for the next 10 years!!!

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