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Samsung staring at annual fall in earnings

  • Samsung’s July-September profit will be the lowest in over three years, the South Korean smartphone maker said, as it heads for an annual fall in profits for the first time since 2011.

    Its third quarter operating profit is likely to have fallen by 59.7% to $3.8 bn, the firm said in a regulatory filing.

    Samsung is facing trouble both in the premium and lower market segments — with Apple iPhones capturing a large share in the former and low-cost Chinese phones, like Xiaomi giving it a run for its money in the latter segment.

     

    Tagged as: Samsung, profit, South Korean, smartphone, Apple, iPhones, Xiaomi, business news