Samsung Electronics says not too worried about emerging market currency falls
SEOUL (Reuters) - 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.
(Reporting by Miyoung Kim; Editing by Richard Pullin)
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