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Samsung's Q4 earnings may not meet consensus: analysts

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(Globalpost/GlobalPost)

SEOUL, Dec. 26 (Yonhap) -- South Korean tech giant Samsung Electronics Co. is expected to post a weaker-than-expected earnings for the fourth quarter of 2013, analysts said Thursday, due to the volatile foreign exchange market.

Analysts here earlier predicted the world's No. 1 smartphone maker would reap an operating profit of 10.2 trillion won (US$9.62 billion) on average for the October-December period, according to the market researcher FnGuide.

A handful of local brokerage houses, however, said Samsung's fourth-quarter earnings may not meet the consensus as the prolonged gain of the Korean won against the U.S. dollar dealt a harsh blow to its price competitiveness.

The local currency ended at 1,059.30 won against the U.S. dollar Thursday, down 6.4 percent from 1,132.00 won tallied on July 1, market data showed.

A relatively stronger won inflicts foreign exchange losses on local exporters, making South Korean goods more expensive overseas.

Korea Investment

http://www.globalpost.com/dispatch/news/yonhap-news-agency/131226/samsungs-q4-earnings-may-not-meet-consensus-analysts