Samsung has released its preliminary earnings guidance for the fourth quarter of the year and says it expects to report its first yearly fall in profit for three years.
Operating profit in the final quarter of the year will be approximately KRW5.2 trillion ($4.7 billion), around 37% lower than Q4 a year earlier. Although Samsung’s forecast is higher than analysts had expected, it would see the company posting a yearly profit of KRW25 trillion ($22.8 billion), the weakest annual result in three years and 32% lower year on year. Turnover in the final quarter of the year is expected to be approximately KRW52 trillion ($47.4 billion), down 7.7% from KRW56 trillion ($51 billion) in the previous year.
Samsung will release its full year results at the end of January.
