Samsung profit decline to moderate in first quarter ahead of Galaxy S6 launch
Operating profit at the Korean electronics firm is expected to be 5.9tn won (£4bn) for the quarter to the end of March – down 31 per cent on the same quarter last year, but a more moderate decline than expected. It remains the sixth consecutive quarterly decline for the firm.
But sales for the period fell more sharply than expected, coming in at 47tn won, compared to the more than 50tn won expected by the majority of analysts.
Final quarterly numbers, including a breakdown of its smartphone, semiconductor and other business arms will follow at the end of the month.
Why it's interesting
Samsung’s global dominance of the smartphone market is being challenged by Apple’s new products and those of rival upstarts such as Xiaomi.
Its newest flagship device, the Galaxy S6, is due to launch this week and Samsung is betting on huge demand to reverse those declining sales.
A slowdown in falling profits in a traditionally quiet quarter is a good sign ahead of the crucial Galaxy S6 launch, which is likely to fuel expectations of its success.