Samsung Electronics reports sharp drop in profit
October 30 , 2014
The third quarter profits of Samsung Electronics have fallen to their lowest levels in over three years due to a slowdown in sale of smartphones, media reports say.
In accordance with its earlier estimates, the South Korean firm reported a 60% drop in profit to $3.8 billions in the three months ending September.
Shares of the smartphone-maker have fallen by 20% this year.
In a statement the firm said though it anticipated a growth in demand for Galaxy Note 4 and other new models, “uncertainty remains.”