ETC Samsung news

Declined profit for Samsung


Declined profit for Samsung

Samsung reported that in the fourth quarter of last year had a profit of 7.71 billion dollars. While the figure sounds impressive, it’s a drop  of 18.2 percent compared to the previous quarter and compared to the same period 2012 the decline is 6 percent. On the other hand, the revenues of the company grew by 0.3 percent compared to the third quarter and 5.7 ​​percent compared to the fourth quarter in 2012. Samsung’s mobile division, which makes up more than half of the company’s total sales and profit, registered a sequential decline of 9 percent in sales and 18 percent when it comes to profit. Samsung blaimed the high marketing costs and one-off cost of the special bonuses, which resulted for a decline in the profit of mobile classes in last quarter of the year. All this is in line with the expectations of analysts, who believed that Samsung will have lower earnings in the fourth quarter.