Samsung Electronics Co said on Tuesday that its Q3 profit is estimated to be lowest over last three years. The main reason being less number of selling of galaxy handsets.
If rumours are to believed part of the loss in profit also comes from tough competition from Apple phones and some upstart Chinese brands. The bigger screen on Apple’s new iPhone 6 is luring away Americans who earlier liked the bigger Galaxy smartphone. In China, local brands are becoming quiet popular and taking portions of Samsung’s profit.
Samsung predicted that the median forecast of its July-September operating income at 4.1 trillion won ($3.8 billion), much lower than the median of analysts’ estimate of 5.2 trillion won according to FactSet, a financial data provider. That is a straight 60 percent plunge from record-high 10.2 trillion won a year earlier.
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