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SAMSUNG LOSES ON PRELIMINARY EARNINGS

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Samsung on STOCK.com

SAMSUNG LOSES ON PRELIMINARY EARNINGS

April 7 2015, 8.05am GMT

STOCK.com

Samsung fell 0.5% in Asian trading as preliminary guidance saw yearly revenue down.

Though the mobile maker beat expectations on fourth quarter profits, year on year quarterly revenue fell by 31%. Details will be published later this month.

Expectations on Samsung earnings: Won5.5tn operating profit [Bloomberg]; Won5.3tn operating profit [Reuters].

Actual revenue for Samsung: Won5.9tn ($5.4bn) in the three months to March 31 2015, down 31% from Won8.5tn a year, but up from the low last quarter 2014 figure of Won4.1tn.

Sales figures however, fell below analysts’ forecasts at 47 trillion won ($43.1 billion), down 12% compared to first quarter figures of 2014.

Initially Samsung shares climbed 0.8 per cent on Tuesday morning but intraday trading saw a loss.

Of course, the smartphone business has kept the South Korean tech company, the largest in the world by revenue, from falling too low against competitors such as Apple. The newly unveiled Galaxy S6 has put Samsung back in the running in the smartphone battle whilst Samsung is also pushing into India with a low cost phone model. However, away from the highly competitive phone market, Samsung is looking to semiconductors and chips to increase sales with a possible collaboration with Apple to make the chips for the next generation of Apple smartphones.

In October 2014, Samsung saw a topple in share valuation down to 511.00 as competitors Lenovo and Xiaomi gained on Samsung in the phone market. However, since then shares have climbed to highs of 668.50, over 35%, and investors have been attracted to the 40% increase in dividend.

MT4 chart: Samsung

Samsung on STOCK.com

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