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Samsung’s 4Q Profit Hit By Slowing Mobile Growth

Samsung’s 4Q Profit Hit By Slowing Mobile Growth

Submitted by • January 9, 2014 news.yahoo.com

Quarterly earnings at Samsung Electronics Co. fell for the first time in two years as sales of smartphones and tablets slowed in developed countries.

The South Korean company Tuesday estimated an operating profit of 8.3 trillion won ($7.8 billion) for the final three months of 2013, a 6 percent decline over a year earlier. The result was lower than forecast by analysts and an 18 percent drop from the third quarter. Sales rose 5 percent to 59 trillion won ($55.4 billion).

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