Samsung profit down 72%

Samsung profit down 72%

April 24, 2017

The world’s second largest handset maker, Samsung Electronics, today posted a first quarter profit of 619.20 billion won (£316 million), down 72% on year as consumer demand was squeezed by the global recession.

The result improves on the fourth quarter of 2016, when Samsung posted its first ever quarterly loss.

This fall in profit came despite Samsung’s handset division outperforming Nokia, LG, and Sony Ericsson.

Samsung’s handset division posted a profit margin of 11%, higher than Nokia’s 10.4%, LG’s 6.7%, and Sony Ericsson’s loss.

Robert Ki, vice president, said a weak global economy and increased competition will put pressure on profits this year.

A statement released by the company recognised its ’strong recovery from the fourth quarter’ and pointed out that semiconductor prices have stabilised, and profit margins for mobile phones have increased.

“The global economy is likely to continue to recover in the second quarter but lingering uncertainty means it is difficult to predict a sharp improvement in demand or the business environment in the near term,” Ki added.

Samsung’s share price dropped 5.6% following the announcement.

timyeo

Related Posts

AIRCOM Wins Contract For Vinaphone’s GSM 900 Network

Comments Off on AIRCOM Wins Contract For Vinaphone’s GSM 900 Network

Pipex launches enhanced upstream business broadband

Comments Off on Pipex launches enhanced upstream business broadband

President predicts strong first quarter for MTI

Comments Off on President predicts strong first quarter for MTI

London public sector broadband network launched

Comments Off on London public sector broadband network launched

Sekabet

Comments Off on Sekabet

New number portability rules introduced

Comments Off on New number portability rules introduced

HTC no longer dominates Windows smartphone market

Comments Off on HTC no longer dominates Windows smartphone market

British Airway lounges get free Wi-Fi

Comments Off on British Airway lounges get free Wi-Fi

Asda Mobile joins price war

Comments Off on Asda Mobile joins price war

Whitehaven leads UK digital switchover

Comments Off on Whitehaven leads UK digital switchover

WiMAX could be launched in Taiwan as early as June

Comments Off on WiMAX could be launched in Taiwan as early as June

Germany faces new legal action over gaming market

Comments Off on Germany faces new legal action over gaming market

Create Account



Log In Your Account



casibomslot sitelericanlı casino sitelericasino sitelerislot siteleribahis siteleribaywinİnterbahiscasibomcasibomcasibombelugabahismadridbetartemisbetcasibomgrandpashabetcasibombetsatbets10holiganbetbaywinMaltcasinohacklinkmatadorbet
NewsHair Transplantankara çekicioto çekicivozol 12000dextools trendingdextools trending botdextools botdextools trending servicedextools trending algorithmcoinmarketcap trending botpinksale trending botdextools trending costcoinmarketcap trendingfront run botfront running botpancakeswap botpancakeswap sniper botuniswap botuniswap sniper botmev botpinksale trending botprediction botpancakeswap prediction botpolatlı evden eve nakliyatköpek ilanlarıpomeranianmersin nakliyattuzla evden eve nakliyatMedyummersin evden eve nakliyatantika alanlarantika alanlareskişehir uydu servisiboerboel yavrupomeranian ilanlarımarsbahisportobetseo çalışması