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.]

Related articles:
Samsung TV ad forced to cherry pick lines from lackluster Galaxy S5 reviews – May 8, 2014
Samsung Electronics replaces mobile design head over lackluster Galaxy S5 phone – May 8, 2014
Samsung’s plastic, 32-bit Galaxy S5 has serious fingerprint sensor problems – May 6, 2014
Samsung’s Galaxy S5 fingerprint scanner hacked, PayPal accounts at risk – April 15, 2014
Samsung’s plastic, 32-bit Galaxy S5 flops in Korea – April 14, 2014
Samsung lies again: 16GB plastic 32-bit Galaxy S5 only has 7.86GB usable on-board storage – February 25, 2014
Samsung unveils plastic, 32-bit Galaxy S5 phone, world yawns – February 24, 2014

Demand remains strong for Apple’s 64-bit iPhone 5s three months after launch – December 19, 2013
Canaccord: Apple’s iPhone 5s ‘by far the top selling smartphone’ in the U.S. for 3rd straight month – December 12, 2013
Forbes reviews Apple iPhone 5s: ‘The best all-round smartphone on the market’ – November 18, 2013
Apple iPhone 5s reviews are universally positive, many crown iPhone 5s the best smartphone – September 19, 2013
Engadget reviews Apple iPhone 5c: A breath of fresh air that will be wildly popular this holiday season – September 18, 2013
Apple’s 64-bit iPhone 5s is by far the fastest smartphone in the world – September 18, 2013
Ben Bajarin: Apple’s new iOS 7 will cause consumers to discover their iPhones all over again – September 18, 2013
John Gruber reviews Apple iPhone 5s: ‘This is what innovation, real innovation, looks like’ – September 18, 2013
AnandTech reviews iPhone 5s: Apple’s 64-bit A7 is seriously impressive – September 18, 2013
TechCrunch reviews Apple iPhone 5s: The best smartphone available – September 18, 2013
Apple’s new iPhone 5S likely to be in exceptionally short supply – September 18, 2013
USA Today’s Baig reviews Apple iPhone 5s: ‘Makes the best smartphone even better’ – September 18, 2013
Mossberg reviews Apple iPhone 5s: ‘The best smartphone on the market’ – September 18, 2013

23 Comments

  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!!!

Add Your Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.