Arab Today, arab today samsung q4 operating profit plunges 18
Last Updated : GMT 09:57:31
Arab Today, arab today
Arab Today, arab today

Samsung Q4 operating profit plunges 18%

Arab Today, arab today

Arab Today, arab today Samsung Q4 operating profit plunges 18%

Seoul - AFP

South Korea's Samsung posted Friday an 18 percent drop in operating profit in the fourth quarter, due to a one-off bonus and slowing sales of the electronic giant's high-end smartphones. Operating profit stood at 8.3 trillion won ($7.8 billion), down 18 percent from the July-September period, marking the company's first quarterly profit decline in two years. The fourth quarter figure was also down 6.0 percent from a year ago. The world's top maker of mobile phones and TVs said earnings were hit by a "negative currency impact" of 700 billion won and a one-off 800 billion won employee bonus to mark the 20th anniversary of a marketing strategy by Chairman Lee Kun-Hee that laid the groundwork for the company's recent success. "For the first quarter it will be challenging for Samsung to improve its earnings as the weak seasonality of the IT industry will put pressure on demand for components and TV products," the company said. The latest earnings result ended the company's long run of record quarterly profits on the back of surging sales of its flagship Galaxy series smartphones. The mobile division posted a quarterly operating profit of 5.47 trillion won, down 2.8 percent from the third quarter. The company statement said the division's earnings were down due to seasonally increased marketing costs, as well as the one-off bonus. The strength of the Korean won against other currencies also weighed on performance, inflicting foreign-exchange losses and making Samsung less price-competitive in the global market. Operating profit for the whole of 2013 was 36.8 trillion won, up 27 percent from the previous year. Samsung had a leading share of 38.8 percent in the global smartphone market as of the third quarter of last year, followed by arch-rival Apple's 13.1 percent, according to the industry research firm IDC survey. But its bottom line has been hit by competition from budget handset makers, especially from China, and the company faces a fresh challenge this year after Apple struck a distribution deal with China Mobile Ltd., the world’s biggest carrier by users. Samsung commanded more than an 18 percent share of China's smartphone market as of the third quarter last year, according to Chinese consultancy Analysys International, while Apple sat in eighth place with just 3.5 percent. Samsung’s display division, which dominates the global market for LED panels, posted an operating profit of 110 billion won in the fourth quarter, down 90 percent from the previous year. Slowing Galaxy S4 smartphone sales increased the inventory of unsold displays, while weaker TV sales also impacted the division.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today samsung q4 operating profit plunges 18 Arab Today, arab today samsung q4 operating profit plunges 18

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era

GMT 11:47 2017 Wednesday ,22 February

Toshiba skyrockets over 22% on chip unit sale hopes

GMT 11:31 2017 Wednesday ,22 February

Bayer says Monsanto deal on track, eyes record 2017

GMT 10:49 2017 Wednesday ,22 February

Airbus says profits hit by military plane woes

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday