Samsung Electronics Forecasts Profit Decline Following Record Quarter

Samsung Electronics has projected its first decline in profits in seven quarters… due to poor sales of its smartphones<br /> The tech giant on Friday posted its expected earnings for the second quarter this year.<br />Operating profit was up 5-point-2 percent on-year,... translating to some 13-point-2 billion U.S. dollars,... but that's 5-point-4 percent lower than the previous quarter's profits. <br />The projected operating profit is lower than market researcher FnGuide's profit forecast of roughly 13-point-7 billion U.S. dollars.<br />Second quarter sales were estimated at 51.8 billion U.S. dollars…down 4-point-9 percent from a year earlier.<br />Analysts attributed the fall to the weak sales of the Galaxy S9. <br />