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Samsung’s mobile profits drop drastically in Q3 2014


Samsung has just posted the financial earnings report for the third quarter of 2014, showing a massive revenue decline in the mobile segment. For the first time in three years, the company’s semiconductor business brought in more money than the mobile wing.

Samsung believes that the drop in the sales and popularity of the Galaxy series of devices is the primary cause for this poor showing. The company posted 4.2 trillion Won ($4 billion) in profits and operating income of 1.75 trillion Won ($1.66 billion) during Q3, which is the lowest since the same period three years ago.

Samsung can however seek solace in the fact that the Galaxy Note 4 has only gone official a couple of weeks ago and its success could reflect positively on the fourth quarter results. However, considering the arrival of newer devices in the same period, it certainly won’t be an easy task for the Korean manufacturer. Analysts are already skeptical of the company’s chances in the fourth quarter of the year, but it’s still too early to tell as Samsung is in the process of launching a few new devices next month.

Source: Associated Press

Via: 9to5Google

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