Just In
- 12 hrs ago HONOR Pad 9 With Bluetooth Keyboard Up For Grabs At Rs 22,499 in India
- 12 hrs ago Report: Apple’s Foldable iPhone May Get Cancelled
- 13 hrs ago Deal Alert: Grab the Samsung Galaxy S23 Ultra for Under ₹90,000 on Flipkart – Here’s How
- 15 hrs ago OPPO F25 Pro New Coral Purple Colour Variant Launched in India; Where to Buy?
Don't Miss
- Movies Panchayat 3 Release Date: When Will Jitendra Kumar's Web Series Release On OTT? Latest Update
- Finance 1:5 Stock Split Charm: From Rs 650-To-8,800, Midcap Stock To Explode Further, Target Highest At Rs 10,950
- Sports Rajasthan Royals Rising Star Riyan Parag's Redemption Story Takes Center Stage in IPL 2024
- Lifestyle Aditi Rao Hydari's 8 Tips for Glowing Skin: A Celebrity Skincare Routine Unveiled, Bonus Tips Included!
- News Jailed Gangster-Turned-Politician Mukhtar Ansari Dies Of Heart Attack
- Automobiles Xiaomi SU7 Electric Car Launched – May End Apple Inc.
- Education RSMSSB Junior Instructor Recruitment 2024; Apply online for 2500 Posts, Check out for more details
- Travel Explore Tamil Nadu's Diverse Wedding Venues
Samsung Posts First Annual Profit Decline in Three Years
Samsung Electronics, the world's largest smartphone maker, posted its first drop in annual net profit in three years today, days after arch-rival Apple reported the biggest corporate profit in history.
The South Korean firm, whose key mobile phone operations have struggled in the face of intense competition from cut-price Chinese rivals, also warned that it expected 2015's "business environment... to be as challenging as 2014."
Recommended: Top 10 Upcoming Mid-range Smartphones Expected to Launch in 2015
The tech giant said today it recorded a net profit of 23.4 trillion won (USD 21.45 billion) in 2014, down 23.2 per cent from a year ago and the first decline since 2011. Operating profit fell 11.7 percent to 25 trillion won in the year and sales also tumbled 10 percent to 206 trillion won.
The fall was cushioned in the fourth quarter by a boom in high-margin chip sales that helped offset the downturn in the key mobile sector, with operating profit in the semi-conductor division rising 35.7 percent to 2.7 trillion won in the October-December period from a year earlier.
Under growing pressure to boost shareholder returns, however, the company still managed to announce an increased dividend of 19,500 won a share, up from 13,800 won a year earlier. Samsung shares fell 0.36 percent, or 5,000 won, to 1,374,000 won in morning trading in Seoul.
The annual profit figure marked a dramatic reversal for the company, which is also facing a once-in-a-generation leadership change, after several years of stellar growth, driven by the once all-conquering mobile division. And it contrasted sharply with the triumphant surge in the fortunes of California tech titan Apple, whose fourth quarter net profit stood at USD 18 billion -- the largest ever made by a public company.
Recommended: Top 10 Best Upcoming Smart watches Expected to Launch in 2015
Apple's performance was driven by the sale of 74.5 million iPhones, which included a doubling of sales volume in the crucial Greater China region. Samsung's fourth quarter net profit, meanwhile, was down 27 percent at 5.3 trillion won.
The company's flagship Galaxy phones have suffered in the high-end market thanks to the popularity of the iPhone 6, while its dominance of the middle- and low-end handset segment has been challenged by Chinese firms such as Huawei, Xiaomi and Lenovo.
Samsung plans to slash the number of smartphone models it issues in 2015, while boosting production of remaining models that can be sold more cheaply to compete with Chinese rivals.
Source: PTI
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
1,39,900
-
1,29,900
-
79,900
-
65,900
-
12,999
-
96,949
-
16,499
-
38,999
-
49,999
-
30,700
-
23,990
-
1,25,999
-
36,999
-
38,999
-
1,17,840
-
35,000
-
23,960
-
82,510
-
11,999
-
25,999