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Samsung Electronics fourth-quarter profit sags as smartphone growth concern deepens

24
Jan
2014

SEOUL (Reuters) – Samsung Electronics Co Ltd posted its first decline in quarterly profit in two years, hit by a one-off special bonus as well as slowing smartphone sales as it braces for a year of tougher competition with rival Apple Inc. The South Korean maker of Galaxy-brand smartphones said October-December operating profit fell 6 percent on year to 8.3 trillion won ($7.73 billion), in line with its previous estimate. Operating profit at its cash cow mobile division stood unchanged at 5.47 trillion won, but slipped 18 percent from July-Septembers record 6. …

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