Samsung bullish over Q2 profit

Samsung Electronics is forecasting that operating profit in the second quarter will be more than five times higher than the first quarter, buoyed by mobile handset sales.

Samsung

The South Korean company, which last week launched a major campaign to support its latest smartphone Jet says it is expecting to record an operating profit of between $1.74bn (£1.1bn) and $2.05bn (£1.27bn) between April to June.

According to reports, analysts are attributing Samsung’s bullish forecast to strong sales of its multimedia mobile handsets and LCD TVs, as well as the stabilisation of memory chip prices.

The results will be in contrast to the $680m (£422m) operating loss it recorded in the fourth quarter of last year, and the 72% decline in first-quarter net profit compared to a year ago.

The company is due to unveil its Q2 financial results on July 24.

The £5m marketing campaign for its new Jet handset was created by Grey London. Samsung Mobile recently appointed Grey as its lead global ad agency as part of major shake up of its roster, following a pitch.

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