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After Dismal 2014, Samsung Electronics Charts Recovery With New Galaxy Phones

By Ron Burgundy,
April 2, 2015 in Tech News

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Ron Burgundy

Posted April 2, 2015

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Posted April 2, 2015

By Se Young Lee SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd likely saw January-March earnings slip for the sixth straight quarter, but investors are betting on a rebound this year on healthy chip sales and high hopes for its new flagship smartphones. Shares in South Korea-based Samsung hit a more-than 21 month high in mid-March as brokerages raised profit forecasts and target prices on its improving business outlook. Investors believe the Galaxy S6 and its curved-edges variant will sell briskly when they roll out this month following positive reviews, and analysts say new mid-tier phones will boost sales, adding to expectations that the earnings slide in its handset business is ending. In addition to healthy memory chip demand, Samsung's system chips business is seen returning to profit this year.