Samsung Electronics Drops its Q3 Guidance on the Back of Galaxy Note 7 Production Halt
We make no changes to our KRW 1.5 million fair value estimate for Samsung Electronics following the company’s revised guidance for third-quarter 2016 sales to decline by around 9% to KRW 49 trillion and operating profit to decline by around 30% to KRW 5.2 trillion. This comes on the back of the company’s announcement that it would recall all sold Galaxy Note 7 phones and stop production of Galaxy Note 7 phones for safety reasons. The new guidance is around KRW 2 trillion lower at the revenue lev...Samsung Electronics is engaged in the manufacture and sale of electronic goods, communication products, semiconductors, telecommunication equipment, home appliances and other similar products. Co.'s products are mobile phones, MP3 Players, DVD players, video equipment, including Blu-Ray, TVs and VCRs; household appliances, including microwave ovens, refrigerators, home air conditioners, washing machines, ultrasonic humidifiers, dehumidifiers, vacuum cleaners and other small electrical goods; audio equipment, including semiconductors, information systems, and computers; miscellaneous parts; other products, including automatic vending machines, refrigerated display cases and electric tools.
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