Samsung Elec Shares Drop More Than 2 Percent On Weak Earnings Outlook
Shares in Samsung Electronics Co Ltd dropped more than 2 percent in early trading Thursday, on continued lackluster forecasts of its Q4 earnings due to currency moves and shrinking margins in its display business.
“We expect Samsung’s performance to be about 9.5 trillion Korean won, lower than the market consensus around 10.2 trillion Korean won. The biggest reason would be the won-dollar exchange rate, followed by shrinking margins in organic light-emitting diode (OLED) sales,” Lee Seung-woo, tech analyst at IBK Investment & Securities said.
Samsung Electronics is expected to report its latest earnings results next Tuesday.
(Reporting by Joyce Lee; Editing by Michael Perry)