Samsung Finds It Costly to Keep Up With ChinaBy
We were warned. Samsung Electronics is facing tougher competition in the No. 1 market for smartphones—China—and has made it clear that no one should expect much from its latest quarterly results. The world’s largest maker of smartphones expected earnings to be “not that good,” Chief Financial Officer Lee Sang Hoon said last month. With that sort of downbeat news coming out of Suwon, South Korea, analysts responded by cutting their estimates. At least 25 downwardly revised their takes on what Samsung’s earnings would be for the quarter.
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