Samsung forecasts drop in Q4 operating profit

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South Korea's Samsung Electronics disclosed its Q4 consolidated earnings estimates revealing that its operating profit dropped to about 8.3 trillion won (USD 7.8 billion) in the fourth quarter, or lower than both the 8.84 trillion won (USD 8.3 billion) from one year ago and the 10.16 trillion won (USD 9.6 billion) from Q3.

Samsung also reported quarterly sales to increase 5.2 per cent to 59 trillion won from last year's sales of 56.06 trillion won, but below Street estimates of 61 trillion won. However, total sales are seen to edge down 0.1 per cent from the previous quarter's sales of 59.08 trillion won.

Samsung shares fell 2,000 won or 0.15 per cent in Tuesday's regular trading in Korea and is currently trading at 1,305,000 won on the Kospi on a volume of 0.13 million shares.

Read more about: samsung, samsung electronics, kospi
Story first published: Tuesday, January 7, 2014, 12:54 [IST]
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