“Samsung Electronics Co. is forecast to post a profit slide for the second consecutive year in 2015 as the company strives to keep grip amid a slump in handset sales,” Yonhap News reports.
“The South Korean tech [chaebol] is expected to log a combined 20.8 trillion won (US$1.91 billion) in net profit this year, down 6 percent from the 22.1 trillion won estimated for all of 2014, according to data compiled by market tracker FnGuide Inc., based on a median forecast from local brokerages,” Yonhap reports. “The 2014 estimate marks a 27.3 percent fall from a year earlier if the figures match. Samsung Electronics is due to release its final version of last year’s earnings later this month.”
“Samsung’s operating income is estimated to have dipped 32.2 percent on-year to 24.9 trillion won in 2014 and is predicted to further drop by around 6 percent this year,” Yonhap reports. “Its cumulative revenue for 2014 is estimated at 205.4 trillion won, down 10.15 percent on-year, which will represent the first annual drop in nine years, the data showed. Analysts cited sluggish sales of flagship Galaxy smartphone as a main reason for the dim outlook. Samsung Electronics has been losing share in the global handset market, squeezed by Chinese startups including now the world’s No. 3 Xiaomi Inc. that came with cheaper phones, and its arch rival Apple Inc., which pushed ahead with the iPhone 6 in the high-end market.”
Read more in the full article here.
MacDailyNews Take: The slavish copier’s comeuppance continues.
It’s best not to mess with karma. – Steve Jobs
Xiaomi, you’re next.
[Thanks to MacDailyNews Reader “M J Miller” for the heads up.]