There is no peace for Samsung and for Ericsson. After the defeat of the Galaxy Note 7 smartphone, the Korean giant announced that its third-quarter earnings will be 33,3% lower than expected. The ax also falls on the estimates regarding the operating result (5.200 billion won, approximately 4,17 billion euros, against the 7.800 billion announced on Friday) and the turnover (which will amount to 47.000 billion won, 4% less than the waited).
Meanwhile, Samsung stock lost 1,6% on the Seoul Stock Exchange, after the -8% recorded yesterday. due todefinitive discontinuation of production of the Galaxy Note 7, it is estimated that Samsung may not sell about 20 million phones originally planned.
As for Ericsson, the Swedish company – which is facing a heavy renovation – communicated that “the third quarter results will be significantly weaker than expected”, because “the negative market trend observed in the first half due to sluggish demand has accelerated”.
Sales between July and September fell 14% year on year to 51,1 billion crowns – weighed down by the state of the Brazilian, Russian and Middle Eastern economies – while operating profits fell to 0,3 billion from 5,1 billion, after 1,3 billion in restructuring costs. Ericsson stock has come to lose 16% on the Stockholm Stock Exchange.
