Samsung, the largest seller of smartphones during the last 2 years, announced last evening a new decrease in the profit recorded for the second fiscal quarter of 2014. According to Samsung, the company's profit for Q2 2014 is $7.1 billion, with $900 million smaller than the one estimated by analysts.
The problem for Samsung is that the profit decreased by 24% compared to the same period last year and we are talking about the third decrease in a row in the last three fiscal quarters. Samsung put this decrease in profit on an increase in the value of the dollar vis-à-vis the national currency of South Korea, the won, the company estimating that in Q3 2014 its profit will increase thanks to an appreciation of the won.
Samsung claims that it also expects an increase in sales in its other departments, so it remains to be seen what performance it will have, taking into account the fact that analysts do not look favorably on the current situation.
