“Samsung Electronics has gone from smartphone model to basket case,” Aaron Back reports for The Wall Street Journal. “There could be worse to come.”
“Samsung said Tuesday its third-quarter operating profit likely fell 58% to 62% from a year earlier, which was even worse than already low analyst expectations. It was the fourth quarter in a row of declining operating profit,” Back reports. “A detailed breakdown won’t be available until Samsung releases full results, but the problem is clearly in the mobile division.”
“Samsung’s smartphone business is facing intense competitive pressure at the low-end from Chinese handset makers, and at the high-end from the iPhone,” Back reports. ” With the iPhone 6, Apple essentially wiped out Samsung’s distinguishing feature: a big screen size. And with the jumbo iPhone 6 Plus, Apple has now entered into the ‘phablet’ segment that Samsung pioneered.”
Read more in the full article here.
MacDailyNews Take: Karma sure is one beautiful bitch!
May Samsung’s pain be multiplied by infinity.
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