Samsung expects operating profit to fall 24.5% year-on-year in the second quarter

"TechWeb Report" July 8, Samsung announced today, as the smartphone business growth slowed, the company's second-quarter operating profit may fall 24.5% to 7.2 trillion won (about 7.12 billion U.S. dollars). That would make the South Korean giant's operating profit decline for the third consecutive quarter. Samsung will announce its second-quarter final results by the end of July. This guidance forecast is well below the average forecast for the operating profit of the 8.3 trillion won, which analysts had previously given. Samsung also expects its second-quarter revenue to fall by 9.5% per cent to 52 trillion won. Analysts were expected to have an average of 54 trillion won. It will also be the first year-on-year revenue slide since Samsung introduced new accounting standards in 2009.