Samsung Electronics forecasts difficult 2016

Samsung Electronics forecasts difficult 2016

Samsung Electronics expects 2016 to be a difficult year, particularly because of the weak worldwide economy and the growing competition in several of its prime markets, like smartphones.

Lower expectations

Samsung CEO, Kwon Oh-Hyun, said in an employee statement that he expects Samsung to achieve a small worldwide growth in 2016, which confirms the idea that its fourth quarter results were lower than previously anticipated.

 

Korea Investment already lowered its forecast for Samsung's fourth quarter operational profit to 6.4 billion won (4.9 billion euro), whereas the analyst firm had previously forecast a 6.8 billion won (5.2 billion euro) operational profit. The 36 analysts' average forecast now reached 6.4 billion won, which is 8.1 % lower than in the third quarter.

 

Samsung's fourth quarter numbers are expected to come by the end of the week, although the company already said in October its profit would be lower than in the third quarter.

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