Samsung’s latest earnings report reveals declining profits

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BY Unknown 21:13 0

Samsung’s latest earnings report reveals declining profits

Samsung released its earnings report for Q4 of the fiscal 2014. The Korean giant posted operating profit of 5.29 trillion won ( about $4.87 billion) from revenue of 52.73 trillion won ($48.6 billion.

The results show a decline from the same period a year ago by over a third. Samsung posted operating profit of 8.3 trillion won last year from 59.28 billion won of revenue. The company’s net income has now declined on an annual basis for four straight quarters.

Samsung’s mobile division posted 26.29 trillion won of revenue and 1.96 trillion won of profit for the quarter thanks to strong sales of Samsung Galaxy Note 4. The profit is down by more than 60% from 5.47 trillion won ($5.09 billion) a year ago.

The company expects its mobile business to grow throughout 2015 in emerging markets such as India and China. Expansion of 4G LTE services globally will also help its cause.

Samsung will also focus on “new materials, innovative design and differentiated features” in order to make its future devices stand out from the crowd. The newly launched Galaxy A series of smartphones will drive the company’s performance over the next quarter until the launch ofSamsung Galaxy S6.

On the tablet side of the business, Samsung will focus on both premium and affordable devices. The company will continue to push forward in the market for wearables as well.

The manufacturer’s processor and RAM businesses unsurprisingly did well during the quarter. Considering Samsung’s plans to utilize its own silicon in future products, expectations point at a strong year ahead for the units.

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