Samsung Expecting 26% Profit Drop This Year
Even though we’re seeing Samsung break sales records with their Galaxy S II line of smartphones, not everything is turning up roses for the Korean based company. Apparently, Samsung is expecting its quarterly operating profits to hit somewhere around 3.7 trillion won, a 26% drop when compared to last years 5.01 trillion won. This is largely in part due to poor PC, TV/LCD sales and the fact that nobody is buying those fancy 3D televisions as expected.
The company’s handset business may become its new cash cow with 19 million smartphones being sold in the second quarter, easily beating their 2011 smartphone sales target of 60 million units. Since its debut in April, the Galaxy S II has sold more than 3 million units and some analysts expect the phone to sell 20 million units by years end.
[Via Reuters]