INSTANT VIEW: Samsung Elec Q2 net misses forecast
SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS: Quote, Profile, Research), the world's top maker of memory chips, posted a 51 percent rise in second-quarter profit as strong earnings in flat screens and handsets made up for sluggish chip results.
The South Korean company, also the world's top maker of liquid crystal display (LCD) screens, reported April-June net profit of 2.14 trillion won ($2.12 billion) versus 1.42 trillion won a year ago during a market slump for dynamic random access memory (DRAM) chips used mainly in personal computers.
The result missed a forecast for 2.30 trillion won from 10 analysts polled by Reuters.
Following are some reactions from fund managers and analysts:
CHUNG MYONG-HOON, ANALYST, HANWHA SECURITIES
"Shares in Samsung are following the movements of the global economy. If constantly high oil prices and credit jitters are factored into the global economy in the second half of the year, demand for technology products will fall.
"Samsung, as a leading technology company, is going to see weaker business in its flagship handset and LCD divisions from the second half of the year."
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