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article imageSamsung reports profit 60 percent less than last year

By James Walker     Oct 7, 2014 in Technology
Samsung Electronics is reporting another substantial profit loss for the third quarter of the year, developing an increasing trend that has continued for the past four quarters.
The company reports that profit will be in the region of $4 billion for the past quarter. Although still a large figure, the sum was $10 billion during the same period last year, clearly illustrating how the company is losing the secure foothold it once had.
Whereas it once dominated the Android smartphone world, it is seeing its sales being impacted on all sides by rivals like HTC, LG and increasingly budget brands like the Chinese Xiaomi. Consumers are also being attracted to colourful, budget Windows Phone-powered Lumia devices from Microsoft and Apple is reporting record sales of the iPhone 6.
With people shying away from its flagship Galaxy S5 handset in favours of alternatives like HTC's One M8 and the market-share of its low-end handsets like the Galaxy Ace series being undercut by cheap Windows Phones like the Nokia Lumia 530, the company has to hunt to gain sales even though their products are still undoubtedly very good. The problem is simply that its rivals have caught up.
This has led to a marked decrease in the company's total mobile market share. Of course, Samsung trade in many different areas of technology alongside mobiles though, including computers, laptops, tablets and even household appliances like washing machines and microwaves.
It can still be alarming to see a company's profits nose so spectacularly over 12 months to lie at 60 percent what they formerly did though. Although sales are still strong and Samsung is nowhere near danger yet, it does show how the brand is no longer quite what it once was — just last year.
More about Samsung, Galaxy, Android, Profit, Loss
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