Samsung forecasts a drop in profit

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SamsungLogo Reuters. A man walks past the main office of Samsung Electronics in Seoul. Photo: Reuters.

Seoul - Samsung Electronics estimated Tuesday that its operating profit would plunge nearly 25 percent on year in the second quarter of 2014, hit by slowing smartphone sales and a strong won.

Operating profit was estimated at 7.2 trillion won ($7.1 billion) for the April-June period, compared to 9.53 trillion won a year ago - the South Korean electronic giant's third straight quarter of year-on-year decline. - Sapa-AFP



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