Codywillard

Samsung Electronics warns on growth expectations as it forecasts 60% fall in quarterly profit (it could have been worse frankly, probably will get worse). Guess who’s been short $EWY as a way to short Samsung in the US and predicting the downfall of Samsung? That’s right, we have. Details include specifics that are exactly what we’d expected when we first put on our short EWY South Korean ETF to get exposure to Samsung’s peak and now, subsequent fall. “The world’s biggest mobile phones and TV maker said it expects an operating income of 4.1tn won ($3.8bn; £2.5bn) for the three months to September. That is below analysts’ expectations for earnings of 5.2tn won. Samsung’s mobile division, its biggest business, has been struggling to maintain its dominance against rivals such as $AAPL and Chinese smartphone-makers Xiaomi and Lenovo.” As I wrote back in January 2013, “Samsung’s products, especially the Galaxy S III, have been selling like gangbusters, but not all reviews I’ve read are stellar. At some point, it