Samsung Earnings Have Been Crushed, Down 27%

Image: Getty/File.

Samsung’s fourth-quarter net profit is down 27% year-on-year.

Samsung reported fourth-quarter profit of South Korean won ₩5.3 trillion ($US4.88 billion) compared to the ₩5.2 trillion profit guidance it gave earlier this month.

However, it’s a stark contrast with Apple’s results this week, which blew away expectations thanks to astronomical iPhone sales in the December quarter, offloading nearly 10 million more units than analysts were expecting in an all-time record of 74.5 million iPhones, up 46% on the year prior.

Meanwhile, Samsung’s mobile division saw its profit fall to ₩1.96 trillion, down from ₩5.47 trillion a year earlier. It is estimated Samsung shipped between 74 million and 77 million smartphones during the fourth quarter, down from an estimate of 86 million a year earlier.

Source: Samsung

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