“Doubts over the sales prospects of Samsung Electronics Co Ltd’s new flagship smartphones are damping expectations of a rapid turnaround for the South Korean giant, even though profit likely continues to recover from last year’s troughs,” Se Young Lee reports for Reuters.
“The average forecast from a Thomson Reuters I/B/E/S survey of 39 analysts tips April-June operating profit at 7.2 trillion won, the same as a year earlier and up from 6 trillion won in January-March,” Lee reports. “Of those surveyed, 20 have cut their forecasts in the past 30 days by an average of 3.9 percent.”
Samsung’s “flagship phones will soon need to compete with new Apple Inc iPhones that analysts expect will launch as early as September,” Lee reports. “‘As the smartphone market matures, the period of time that consumer demand for a high-end product lasts looks to have gotten shorter,’ KTB Investment analyst Jin Sung-hye said in a report, cutting her 2015 Galaxy S6 shipments forecast to 45 million from 49 million previously.”
Read more in the full article here.
MacDailyNews Take: More pain, Karma – as much as possible, please!
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