Samsung reported its worst quarterly profit in two years and was downbeat about prospects, fueling concerns about its ability to face competition.» Read More
SEOUL, South Korea— Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter. Its net income for the April-June quarter dropped 20 percent to 6.3 trillion won from 7.8 trillion won a year earlier.
SEOUL, South Korea— Samsung Electronics Co. reported lower-than-expected profit for the second quarter on Thursday and said it was uncertain if handset business profit would improve during the current period. Its net income during the April-June quarter dropped 20 percent to 6.3 trillion won, compared with 7.8 trillion won a year earlier.
NEW YORK— Samsung Electronics Co., the world's biggest maker of smartphones, saw its sales drop in the second quarter, a research firm said Tuesday. Operating profit declined, and Samsung said sales of medium- and low-end smartphones were weak in China and in some European countries because of stronger competition and sluggish demand.
CORNING, N.Y.— Corning Inc., which makes glass screens for electronics, said Tuesday that its second-quarter net income fell 74 percent from a year ago as demand for tablets weakened. The company's Gorilla Glass is used in tablets and smartphones made by Samsung, Acer, HTC, Lenovo and others, according to the Corning's website.
Some of the names on the move ahead of the open.
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IBM and Pure Storage announced in a release that the private computer storage company has acquired more than 100 technology patents from IBM.
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Intel raised expectations on second-quarter and full-year revenue, as well as gross margins, based on a stronger-than-expected business PC demand.
For some young Chinese, the desire to work for foreign companies may be losing its appeal.
Samsung Electronics on Tuesday is unveiling its first phone that uses propriety software, rather than Google Android.
Google's Motorola Mobility handset unit will close its Texas factory by the year's end, Motorola spokesman Will Moss confirmed after a WSJ report.
Google revealed how very white and male its workforce is; just 2 percent of its Googlers are black, 3 percent are Hispanic, and 30 percent are women.
China will overtake the U.S. as the world's largest mobile phone market this year for the first-time ever, according to research out on Wednesday.
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Lenovo, the world's largest PC maker, is intent on becoming a global brand as it shifts its focus away from China, the firm's CFO told CNBC.
After Lenovo reported its slowest annual profit growth in five years, CFO Wong Wai-ming told CNBC's Samantha Loring why he's not too concerned about flat growth in the firm's home market, China.
Some of Wednesday's midday movers: