In response to some media reports that Samsung Electronics is likely to report a first-quarter operating profit of 6 trillion won, the electronics giant said Wednesday: “We are still tallying up figures. Nothing has been confirmed yet.”
On the same day, a domestic newspaper quoted a Samsung Electronics official as saying that the company would report over 6 trillion won in Q1 operating profit as sales of its flagship products like smartphones and TVs bottomed out and various restructuring efforts that began last year started to pay off.
The newspaper reported, “Generally speaking, the first quarter of each year is low season for IT products. Amid the prolonged global economic slowdown, Samsung Electronics racked up an operating profit of roughly 6 trillion won for five consecutive quarters, a sign that the tech giant’s earnings started to bottom out.”
Samsung Electronics is scheduled to announce its provisional financial results for the first quarter on April 7.
