Samsung forecasts big profit drop, still beats estimates

Samsung expects to report a more than 30 percent decline in first-quarter profit, but that's better than analysts' forecasts.

The South Korean device maker estimates that its operating profit fell to 5.9 trillion won ($5.4 billion) in the period, compared with 8.49 trillion won a year earlier, according to a post on the company's official blog.

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Meanwhile analysts polled by Thompson Reuters expected Samsung to report profit of 5.3 trillion won for the quarter.

The company's results could see a boost going forward, however, with the release of its new Galaxy S6 phone on Friday.

The Samsung Galaxy S6 Edge smartphone at the Mobile World Congress in Barcelona, March 2, 2015.
Gustau Nacarino | Reuters
The Samsung Galaxy S6 Edge smartphone at the Mobile World Congress in Barcelona, March 2, 2015.

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In addition to it being a major competitor for Apple's iPhone, it's also going head-to-head with other Android devices including the HTC One and the LG G3, said Dan Costa, PCMag.com editor in chief, in an interview with CNBC.