After Samsung Electronics revealed lower-than-expected second-quarter preliminary results due to sluggish sales of its latest smartphone Galaxy S6, a string of domestic securities firms showed their disappointment and reduced their earnings forecasts for Samsung Electronics.
One securities firm has cut its third-quarter earnings forecast for Samsung Electronics down to 6.5 trillion won. According to financial information provider FnGuide on July 12, the market consensus on Samsung Electronics' third-quarter operating profit, presented on July 10 by 19 securities firms was 7,023 billion won.
This figure is down 3.27 percent compared to the consensus (7.26 trillion won) presented on July 6 before Samsung Electronics revealed its second-quarter preliminary results.
The consensus on Samsung Electronics' third-quarter revenue and net profit was also lowered to 50.36 trillion won and 5.83 trillion won, down 4.04 percent and 3.18 percent from the previous consensus of 52.48 trillion won and 6.02 trillion won.
