The head of Samsung has lowered growth expectations for the first quarter of 2016 at the company citing strong competition and rising development costs.
Speaking on Monday, Samsung chief executive Kwon Oh-hyun told staff that the company will have to endure another year of low global growth as it deals with the financial risk of being active in emerging markets.
Oh-hyun also dropped a hint that the company’s October-December performance may be weaker than previously expected, according to Reuters.
He also predicted greater competition in the Korean giant’s main businesses with estimates for its Q4 profits dropping from 6.8 trillion won to 6.4 Read full story ›
Source: The Drum
Industry News