Samsung's operating profit is down 30% on smartphone competition

Photo: Jonathan Leibson/Getty Images

Samsung says its operating profit for the first quarter was down about 30.5% as the Korean electronics company comes under pressure from Apple and smartphone makers in China.

According to preliminary numbers, operating profit was estimated at 5.9 trillion won ($AUA7.1 billion) for the three months to the end of March, down from 8.49 trillion won ($AU10.2 billion) in the same period 12 months ago.

However, the guidance was better than analyst forecasts of 5.3 trillion won ($AU6.4 billion).

Revenue for the quarter fell 12.4% to 47 trillion won ($AU56.9 billion).

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