Samsung’s latest annual report falls short of market expectations. In the booming chip market, competition is putting increasing pressure on the South Korean electronics company.
Samsung’s latest business figures fall short of market expectations. In its quarterly outlook for the months of July to September, the South Korean electronics giant assumes that its operating profit of 9.1 trillion won (around 6.1 billion euros) has increased fourfold year-on-year. However, compared to the previous second quarter, profits fell by almost 13 percent.
Samsung share price falls
The markets reacted with disappointment. Samsung’s share price fell by over 1.3 percent immediately after the publication of its quarterly outlook. Experts attribute the comparatively weak quarterly figures to the fact that the market leader for memory chips, smartphones and TV is currently lagging behind in the development of high-performance semiconductors in the booming AI market. In particular, direct competitors Nvidia and SK Hynix are putting Samsung under a lot of pressure.
The business figures are only an initial estimate. The group will only publish more precise figures at a later date, probably at the end of the month.
Text: dpa / Editor: Felix Ritter
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Source: www.digitalfernsehen.de
