Samsung announces profit decline of 23%
Although you’d expect Samsung Electronics who have some of the best smartphones and tablets on the market right now to have huge profit increases year on year, they have just posted a 23% decline in their profits, of which have been put down to an overall decrease in the shipment of flat panel TV’s and computer chips. It is unclear as to who it has lost out to in the flat panel TV sector, however we have a sneaky suspicion that LG may have played a key role in this, offering up similar sized TV’s at lower prices.
Samsung reported that the profits for the quarter ending September 30 it had earned $3.1 billion as compared to $4 billion last year during the same period as revealed by the San Francisco Chronicle.. and according to IT Pro portal, Samsung’s display panel business registered total revenue of $6.4 billion with a loss of $81.5 million and its semiconductor business registered sales of $8.6 billion.
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