Samsung not worried about emerging market issues

 ·1 Oct 2013

Volatility in emerging market currencies would not have a big impact on Samsung Electronics Co Ltd’s home appliances business, a senior executive said on Tuesday.

“Plunges in emerging market currencies were an issue of concern until recently but they have started stabilizing … and our global business portfolio is helping us offset weakness in such markets,” Eom Young-hoon, executive vice president of sales and marketing at Samsung’s Digital Appliance business told reporters.

Samsung shares have come under pressure due to concerns that falling emerging market currencies and a rise in U.S. dollar-based raw material costs would squeeze profits of its television and consumer electronics business in the third quarter.

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