samsung logo

Samsung Flags 60% Plunge in Q3 Operating Profit

Comments Off on Samsung Flags 60% Plunge in Q3 Operating Profit 3

Samsung Electronics on Tuesday flagged a near 60 percent on-year plunge in its third quarter operating profit, as its key smartphone sector continued to struggle in the face of increased competition.

Operating profit for the July-September period was estimated at 4.1 trillion won ($3.8 billion), down 59.6 percent from the third quarter last year, the company said.

Sales were estimated at 47 trillion won, down 20.4 percent from 2013. While smartphone shipments increased slightly, “operating margin declined due to increased marketing expenditures and a lowered average selling price, driven by reduced proportional shipments of high-end models coupled with price decreases for older smartphone models”, the South Korean electronics giant said in an explanatory note. Original post at ET Telecom

Tagged with: ,
Wahengbam Rorrkychand

View all contributions by Wahengbam Rorrkychand

Website: http://www.blog.tonsetelecom.com

Similar articles

Get in Touch

Phone: +91 80 4093 6921
Web: www.tonsetelecom.com

NewsLetter