From InfoWorld: Samsung Electronics is expecting a drop in its operating profit for the third consecutive quarter, citing an overall slowdown in smartphone market growth and increased competition in China and some European markets.
The company was also hit in the second quarter by the appreciation of the Korean won against the U.S. dollar, the euro, and most emerging markets currencies, it said Tuesday in an earnings guidance.
The South Korean smartphones and tablets maker expects its operating profit to fall to between 7.0 and 7.4 trillion won ($7.3 billion) from 9.53 trillion won in the second quarter last year.
The company's sales are forecast to be in the range of 51 to 53 trillion won, down from 57.46 trillion won in the same quarter last year.
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