Samsung hit by weak TV sales

first_imgThursday 7 October 2010 3:24 am whatsapp Samsung Electronics Co’s disappointing earnings guidance sparked slowdown worries as prices of its key products slide, hitting shares and ending the technology group’s run of record quarterly performances.The world’s largest memory chipmaker, which has a tradition of beating even the most bullish estimates, faces a tough outlook as a fragile world economy has hit demand for TVs and computers.The International Monetary Fund expects global growth to slow to 4.2 per cent next year from a forecast of 4.8 percent for this year, dragged by advanced economies.Samsung, also the world’s No.2 maker of mobile phones and the No.1 maker of LCDs, estimated its July-September operating profit and sales to come below market consensus.“LCD (liquid crystal display) and TV performance appears to be worse than expected and the downward pressure on earnings will only grow as chip prices are also falling and TV makers increase price cuts,” said Chung Young-woo, an analyst at Korea Investment & Securities.“Usual uptick in seasonal year-end demand will be smaller this time and an earnings recovery is unlikely until early next year.”Samsung, the first major global technology firm to flag preliminary September quarter results, might set the benchmark for technology investors with Intel and Advanced Micro Devices reporting numbers next week.Samsung has performed strongly over chip rival Micron and held on to its No. 1 slot in TVs against Sony Corp and Panasonic. John Dunne Samsung hit by weak TV sales Sharecenter_img Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Tags: NULLlast_img

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