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Samsung's Estimated Q1 Profits Are Down

4/07/2011 10:22:43 AM Eastern
Seoul, South Korea - Samsung reported first-quarter consolidated earnings estimates, which showed lower operating profits but higher sales compared with actual results in last year's first quarter.

Operating profit is estimated at 2.9 trillion won for the quarter as compared with actual operating profits of 4.41 trillion won in the first quarter of last year.

Sales are estimated at about 37 trillion won compared with sales of 34.64 trillion won in the first quarter of last year.

Estimated net profits were not provided by Samsung. Analysts from a variety of media outlets pointed to several reasons for lower operating profits, including sluggish demand for TVs.

Samsung's actual earnings results will be released later this month.
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