Samsung warns of sales slump

Vendor forecasts difficult climate for consumer electronics
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Despite chalking up record operating profits for the quarter, Samsung has warned that it anticipates falling sales later this year.

According to the Financial Times, the vendor’s operating profit grew by 88 per cent, while net profit was boosted by 83 per cent.

However, it has echoed warnings by Hyundai that falling demand in Europe” would create a difficult climate for consumer goods in the second half of the year.

“With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels,” said Samsung’s head of investor relations, Robert Yi.

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