Samsung's Profits Decline in Q4 as Smartphone Sales Drop

The world's biggest smartphone maker on Friday posted disappointing fourth-quarter results, although its operating profit for the year reached an all time high of W36 trillion (US$1=W1,079).

Posting the first decline in its quarterly performance in two years, Samsung said its profit for the October-to-December period fell 18 percent to US$7.7 billion from the previous quarter. It was also down 6 percent from a year earlier. The result was mainly due to worse-than-expected earnings in its main smartphone business, which accounts for two thirds of the company's operating profit.

Analysts say its fortunes in the coming year will depend largely on how it fares in terms of high-end smartphones and premium TVs, particularly in ultra high-definition and curved panel TVs.

Arirang News / Jan. 27, 2014 10:35 KST