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Samsung Elec fourth quarter guidance underscores tech sector headwinds

By Se Young Lee SEOUL (Reuters) – Tech giant Samsung Electronics Co Ltd said on Friday its fourth-quarter operating profit likely rose 15 percent from a year earlier, missing expectations and fuelling concerns the tech industry may be in for a tough year of slack gadget sales. Slowing economic growth in China and weaker emerging market currencies are undercutting sales of consumer electronics and gadget components, spelling trouble not only for smartphone market leaders Samsung and Apple Inc but for their suppliers and the broader industry. Samsung said in a regulatory filing its October-December operating profit would likely be 6.1 trillion won ($5.10 billion), compared with a 6.6 trillion won Thomson Reuters SmartEstimate derived from a survey of 30 analysts.

Quoted from Samsung Elec fourth quarter guidance underscores tech sector headwinds on Gadgets News Headlines – Yahoo! News

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