Samsung offers a detailed apology following unsatisfactory results — view the complete message.
- The memory chip manufacturer forecasted its operating profit for the September quarter to be around 9.10 trillion won, falling short of LSEG's expectations.
- According to a survey conducted by LSEG, analysts predicted an operating profit of 11.456 trillion Korean won ($7.7 billion) for the quarter ending September 30.
Samsung Vice Chairman Jun Young-hyun, who leads the Device Solutions Division, apologized for the company's disappointing third-quarter profit guidance on Tuesday.
The leading memory chip manufacturer forecasted its operating profit for the quarter ending in September to be approximately 9.10 trillion won, which fell short of LSEG's expectations.
According to a survey conducted by LSEG, analysts predicted an operating profit of 11.456 trillion Korean won ($7.7 billion) for the quarter ending September 30.
Samsung reported that its memory division's performance decreased due to "one-time expenses and unfavorable effects," such as inventory adjustments from mobile customers and an increased supply of older products from Chinese memory manufacturers.
Read the full apology, translated by Google and CNBC, below:
—CNBC's Chery Kang contributed to this article.
Technology
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