Samsung's profits fall for fifth straight quarter
July 30 , 2015
Samsung Electronics has posted an 8% drop in net profit for the second quarter — the South Korean firm’s fifth consecutive quarterly fall.
The electronic giant’s profit for the April-to-June period fell to $4.9 billion, in line with the firm’s earnings guidance issued earlier.
The company’s smartphone division continues to face tough competition from rivals such as Apple and Chinese firms that offer cheaper phones.
Samsung said its Galaxy S6 smartphone sales had fallen short of expectations.