Tough mobile market hits Samsung

Well it looks like earnings slumps are hitting just about everyone, including Samsung. They are being hit the hardest with their mobile sales and the sales from flat screen TVs.

South Korean electronics giant Samsung has reported an 11% drop in quarterly profits, hit by falling margins for mobile phones and flat screen TVs.

Samsung said it made 1.51 trillion won ($1.59bn; £864m) in the three months to the end of June, compared with 1.69 trillion won last year.

But the company said it expected to see a recovery across its businesses in the final six months of the year.

It also unveiled a $1.9bn deal to make LCD display screens for Sony of Japan.

Under the terms of the joint venture, Samsung will make LCD panels for 50 inch flat screen TVs following a “significant” increase in demand…. Source: BBC


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