Samsung Electronics posts 40% fall in Q4 net profit

Net profit for October to December amounted to 3.22 trillion won (USD 2.7 billion), down 39.7 percent from a year ago, the company said in a statement.

January 28, 2016 / 15:43 IST

Samsung reported today a 40 percent on-year drop in its fourth-quarter net profit as the world's top handset maker continued to struggle with slowing global demand for smartphones and fierce competition from cheaper rivals. Net profit for October to December amounted to 3.22 trillion won (USD 2.7 billion), down 39.7 percent from a year ago, the company said in a statement. Operating profit rose 16.1 percent on-year to 6.1 trillion won, in line with its earlier estimate.

first published: Jan 28, 2016 08:17 am

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