Saturday February 22, 2020

Samsung posts profit decline as phone competition hots up

Samsung Electronics posted its first profit decline in nine quarters as new Apple iPhones won over high-end handset buyers and models from cheaper Chinese producers lured budget customers.

7th January, 2014
Samsung's Galaxy S4.

Samsung Electronics posted its first profit decline in nine quarters as new Apple iPhones won over high-end handset buyers and models from cheaper Chinese producers lured budget customers.

Operating profit was 8.3 trillion won (€5.7 billion) in the three months ended December, the Suwon, South Korea-based company said in a statement today. That compares with profit of 9 trillion won a year earlier, according to data compiled by Bloomberg.

Sales of Samsung’s Galaxy S4 have slowed amid...

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