Samsung on Tuesday issued weaker-than-expected second quarter guidance.
The Korean electronics giant expects sales of approximately 48 trillion won (€38.7 billion) for the three months to 30 June and consolidated operating profit of KRW6.9 trillion (€5.6 billion).
The forecast results represent an improvement on Q1, when Samsung generated sales of KRW47.1 trillion and operating profit of KRW6 trillion. This is to be expected given the company’s latest flagship smartphones, the Galaxy S6 and S6 Edge, hit the shelves in April.
However, the guidance is considerably below the KRW52.4 trillion in sales and KRW7.2 trillion in operating profit that Samsung generated in the second quarter of 2014.
According to Radio Free Mobile founder Richard Windsor, it is also below the market consensus of sales of KRW53.4 trillion and operating profit of KRW7.2 trillion.
Windsor said Samsung expected the S6 to outsell the S6 Edge by four to one.
"Unfortunately this was not the case as demand has been roughly one to one, leaving a shortage of the S6 Edge and inventories of the regular S6," he explained. "The net result is that overall shipments of the S6 have not been as good as hope d, causing the revenue miss."
Samsung is due to publish its full second quarter results later this month.
