Samsung has posted its earnings guidance for the fourth quarter of 2014, revealing unflattering income and drastic shrink in profits. The company’s operating profits have been expected to drop by 37% year-over-year. Samsung has raked in a total of 52 trillion Korean Won which is roughly about $47.3 billion in overall revenues during Q4 2014. Even though the numbers have dropped dramatically from the previous year, sales and revenues are up compared to Q3 2014.
The earning guidance report for Q4 2014 suggests that the manufacturer will show profits of $4.5 billion or 5.2 trillion Korean Won in Q4 2014, which is down from the $8.3 billion figure it registered in Q4 2013. The company can seek solace in the fact that analysts only predicted the company to garner 4.8 trillion Korean Won during the quarter.
The overall increase in sales compared to Q3 2014 could be due to the fact that Samsung launched the Galaxy Note 4 in September. The holiday season might have had a massive part to play in the change of quarterly fortunes as well. The company’s leadership was almost axed after the poor showing in Q3 2014. The company will hope to make a turnaround this year with new strategies to counter the faltering sales figures.
Source: Samsung Tomorrow