Friday , 23 August 2019
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Samsung warns for EUR 2.4 bln revenue drop in Q4, Q1

Samsung warns for EUR 2.4 bln revenue drop in Q4, Q1

After lowering its guidance for the third quarter on the back of its Galaxy Note 7 woes, Samsung said it expects a drop in revenue to continue affecting revenues the following two quarters. The company said the move will have a negative impact of mid KRW 3 trillion (EUR 2.4 billion) on its operating profit from the fourth quarter of this year through the first quarter of next year. The impact is expected to be in the mid KRW 2 trillion range for Q4 2016 and RWN 1 trillion for Q1 2017.

Moving forward, Samsung Electronics plans to normalize its mobile business by expanding the sale of flagship models such as the Galaxy S7 and Galaxy S7 edge. The company said it will also focus on enhancing product safety for consumers by making significant changes in its quality assurance processes.

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