Samsung Expects Drop In Q1 Operating Profit

Samsung Electronics Co

forecast a drop in its operating profit for the three months ended March 31. Samsung expects a 2.1% to 6.6% y/y fall in its operating profit for the quarter, versus a 6% drop in fourth-quarter operating profit. Samsung projects a Q1 operating profit of 8.2 trillion won to 8.6 trillion won ($7.8 billion to $8.2 billion) on sales of 51 trillion won to 55 trillion won. In the year-ago period, Samsung posted an operating profit of 8.78 trillion won on sales of 52.87 trillion won a year earlier. Analysts were expecting an operating profit at 8.4 trillion won on sales of 54.4 trillion won. Samsung shares closed at $1,300.00 yesterday.