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Samsung's Bad Quarterly News Begins Dripping out of Korea

10.5  PA  XTRA NEWS

1AF 55 COVER - WILL IT EVER END

On March 30 Patently Apple posted a report titled "Are Samsung's Upbeat Expected Earnings Really Due to Galaxy S7 Sales?" The report from Korea on that day was forecasting positive sales for the first quarter due to positive Galaxy S7 sales. However, two Korean Press reports published today are providing us with a glimpse of Samsung's potential losses for the Quarter that they're supposed to report on by Thursday.

 

The first report from provides us with the news that Samsung's sales in China are continuing to fall. According to Samsung Electronics' business report for 2015, published on April 3, its sales in China amounted to 30.98 trillion won last year, down 6.17 percent from a year ago. Samsung chalked up sales of 40.15 trillion won in China in 2013. Over the past two years, its Chinese sales declined by 22.8 percent, far higher than its overall sales decline of 12.3 percent during the same period.

 

The second report provides us with the news that Samsung Display's losses are likely to be much wider than initially expected. While the loss was to come in at about $174 million, it's now to climb much higher and even as high as $521 million, though that's the most negative of all numbers flashed. The losses are due to poor sales and reduced prices for LCD panels.

 

Whether Samsung is trying to get the bad news out of the way before announcing their positive news for the Galaxy S7 or whether the news is bad all around isn't known at this time. Yet we should have the full breakdown of their quarter later this week.

 

10.6  PA - Bar - Xtra NewsAbout Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Comments are reviewed daily from 4am to 6pm PST and sporadically over the weekend.

 

 

 

 

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