South Korean tech giant’s shares slip only slightly
Shares of Samsung Electronics Co. fell slightly Tuesday after the company issued a premarket earnings warning.
The South Korean electronics giant said first-quarter results will miss consensus views because of weakened sales of its display panels and memory chips.
The softness, especially in memory chips, is already well-known. Still, it’s important for Samsung, as despite the company being the world’s largest smartphone maker, it obtained 79% of its 2018 operating profit from electronic components.
Samsung shares 005930, -0.55% were last down 0.3%, adding to Monday’s 2.3% decline and leaving the company’s stock flat for March. Still, it’s up 17% for the year.
Smaller memory-chip maker SK Hynix 000660, -0.27% was off 0.7% Tuesday.