Samsung's Q4 profits hit by slowing mobile sales growth
By Youkyung Lee, APSEOUL--Quarterly earnings at Samsung Electronics Co. fell for the first time in two years as sales of smartphones and tablets slowed in developed countries.
January 8, 2014, 12:29 am TWN
The South Korean company Tuesday estimated an operating profit of 8.3 trillion won (US$7.8 billion) for the final three months of 2013, a 6 percent decline over a year earlier. The result was lower than forecast by analysts and an 18 percent drop from the third quarter. Sales rose 5 percent to 59 trillion won (US$55.4 billion).
Since the last quarter of 2011, Samsung's operating income has increased every quarter, peaking at 10.2 trillion won in the July-September period. The fourth quarter performance shows that explosive growth in Samsung's lucrative mobile device business has come to a halt.
It will release its net profit result for the fourth quarter later this month.