Apple Isn't The Only Smartphone Maker That's Hurting: Just Ask Samsung
- 8 years ago
Tech giant Samsung Electronics Co Ltd SSNLF 0.00% said Friday its fourth-quarter operating profit likely missed market expectations, fuelling concerns the tech industry may be in for a tough year of weak gadget sales.
Slowing economic growth in China and weaker emerging market currencies are undermining sales of consumer electronics and related components, spelling trouble not only for smartphone market leaders Samsung and Apple Inc AAPL -4.93% , but for their suppliers and the broader industry.
Samsung shares ended up 0.7% Friday, in line with the broader market on a day dominated, as the rest of the week, by news from the Chinese stock market.
Slowing economic growth in China and weaker emerging market currencies are undermining sales of consumer electronics and related components, spelling trouble not only for smartphone market leaders Samsung and Apple Inc AAPL -4.93% , but for their suppliers and the broader industry.
Samsung shares ended up 0.7% Friday, in line with the broader market on a day dominated, as the rest of the week, by news from the Chinese stock market.