SEOUL– Samsung Electronics Co., the country’s top market cap, is still undervalued and has further room to rise down the road given its strong earnings, analysts said Sunday.But some fund managers remained cautious, projecting its earnings cycle may t…
Category: Governance
S. Korea’s chicken exports virtually suspended amid bird flu spread
SEOUL– The export of South Korean chickens has effectively come to a halt this year, apparently hit by the spread of avian influenza (AI), government data showed Saturday. The outbound shipment of chickens reached only 139 tons between January and May…
N. Korea’s release of American student could be move toward diplomacy: expert
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Samsung Electronics operating profit forecast at over 12 tln won
SEOUL– Samsung Electronics Co.’s second quarter operating profit is forecast to reach record high levels, with most estimates around the “low” 12 trillion won (US$10.6 billion) to upwards of over 13 trillion won, local brokerages said Sunday.
Reports coming out of securities firms showed market consensus for a very strong performance for the world’s No. 1 smartphone and memory chip manufacturer, with keen interest even being shown on operating profits surpassing the 13 trillion-won mark.
The South Korean tech giant reported its largest operating profit ever in the third quarter of 2013, when numbers reached 10.16 trillion won. In the first quarter of this year, its profits stood at 9.9 trillion won, the second highest tally for a three-month period.
Market researcher FN Guide said estimates compiled as of last week showed analysts were predicting Samsung sales reaching 58.2 trillion won, with operating profits forecast at 12.99 trillion won in the three-month period ending in June.
The estimate, if met, will represent a 14.3 percent increase in sales and 59.5 percent surge in operating profit vis-a-vis the April-June period of 2016.
Eo Kyu-jin, an analyst at eBEST Investment & Securities, claimed that even a figure higher than 14 trillion won is possible, judging by overall sales that could have reached as high as 58.9 trillion won.
Experts have said a rise in semiconductor prices, as well as demand for organic light-emitting diode screens, is helping the company. Samsung is also likely to benefit from strong sales of its latest Galaxy S8 smartphones.
Others like Lee Se-cheol, an analyst at NH Investment & Securities, said Samsung is expected to topple Intel as the largest chipmaker in the world, which will help the company’s profit. Intel has been the global leader since 1991.
Market observers, predicted at the present pace, Samsung’s operating profit could even surpass the 50 trillion-won level on an annual basis and set another record for the electronics giant.
Source: Yonhap News Agency
Renault aims to sell up to 5,000 Clios in S. Korea this year
SEOUL– French carmaker Renault S.A. is aiming to sell up to 5,000 units of its small Clio hatchback in South Korea this year after its launch in September, the local head of Renault Samsung Motors Corp. said Friday. Renault Samsung, an 80-percent-owne…
Inter-Korean summit celebration event likely to fall through
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LVMH chairman visits S. Korea ahead of exhibition
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Foreigners traveling S. Korea via Airbnb up 130 pct in 2016
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Chemical stocks set to further advance on rising demand
SEOUL– Stocks of LG Chem Ltd., South Korea’s top chemical firm, and its local rivals have advanced in recent weeks, but have room for further gains on improving the bottom line and solid demand for key products, industry sources said Saturday.On Frida…
U.S. ICBM intercept test sends clear message to N. Korea: senator
WASHINGTON– This week’s successful ICBM intercept test by the United States sends a clear message to North Korea that the U.S. is capable of shooting down any oncoming missile from the communist nation, a senator said Wednesday.”This test clearly demo…