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  1. Hardware
July 6, 2015

Samsung Q2 likely down due to S6 shortages

Lack of stock and economic tensions in Europe and China signal earnings fall.

By Joao Lima

Samsung profits fell 6% for the year, as of mid-day trade today, due to Galaxy S6 stock shortages and economic strains in Europe and China.

Park Jung-hoon, HDC Asset Management FUND manager, said: "After the first-quarter results the consensus for second-quarter earnings was somewhere in the high 7 trillion won ($6.22 billion), but now I think so long as the first digit doesn’t start with a six it won’t be a shock."

A Thomson Reuters I/B/E/S survey predicts Samsung’s profits for Q2 to reach £4.1 billion, up form £3.4 billion in Q1.

Of the 39 analysts surveyed, 20 lowered their forecasts by an average of 3.9% in the last month.

Analysts said Samsung failed to predict demand for the Galaxy S6 which will affect its year results.

The smartphone manufacturer will release its Q2 revenue guide this Tuesday, with full earnings to be revealed by the end of July.

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