Samsung’s earnings to miss forecasts

Both operating profit and sales are expected to fall below forecasts for the second quarter

Second quarter earnings for the world’s biggest smartphone maker, Samsung Electronics, will likely miss expectations, the tech giant said.

The South Korean company forecast that its operating profit from April to June is likely to fall 4% from a year ago to 6.9tn won ($6.13bn; £3.9bn), lower than forecasts of 7.2tn won.

Its sales also fell 8% to 48tn won, below expectations of 53tn won.

The company is struggling to see growth in a saturated smartphone market.

The launch of its latest flagship smartphone, the Galaxy S6, has been plagued with supply shortage issues, impacting its sales in the quarter, say analysts.

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