Samsung hasn’t been selling as many smartphones over the last 12 months as it had in the previous years, and now the company has announced that the Samsung Q4 profits are expected to be down on the same time last year.
The company has said that it is expecting its Q4 profits to be down 37 percent on the same time last year, this has been announced ahead of the companies full earnings report, which will land later this month.
Samsung has estimated that it will make an operation profit for the quarter of around 5.2 trillion won, which is around $4.7 billion, this is down some 37 percent on the previous years.
The company has also said that it is expecting to report lower sales than the previous year, with overall sales down around 12 percent to about $47 billion.
Around two thirds of Samsung’s operating profits comes from its smartphone sales, and as the company is selling less handsets, due to increased competition in both the low end and high end market, this has had a major effect on the company’s profits.Filed Under: Technology News, Top News