Samsung Electronics forecasts 37 percent dropStaff writer ▼ | January 8, 2015
Samsung Electronics Co. said its annual profit fell for the first time in three years as its smartphone growth lost steam.
Samsung Annual profit fell for the first time in three years
For the fourth quarter of last year, Samsung said operating profit was about 5.2 trillion won ($4.7 billion), down 37 percent from a year earlier. The result was still higher than analyst expectations of 4.9 trillion won according to FactSet, a financial data provider, due to robust demand for memory chips.
Quarterly sales dropped 12 percent to 52 trillion won, in line with the expectations of analysts. ■