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Samsung sees smartphone market slowing in 2016
2016-01-28 08:35:00| Telecompaper Headlines
(Telecompaper) Samsung Electronics reported a fall in net profit for the fourth quarter, to KRW 3.22 trillion from KRW 5.35 trillion a year ago. Operating profit rose to KRW 6.14 trillion from KRW 5.29 trillion a year earlier, and quarterly revenues were up 0.5 percent year-on-year to KRW 53.32 trillion. The weak sales growth was due to lower revenues from consumer electronics and mobile phones, while the semiconductor and components business continued to grow. Sales at the mobile division fell to KRW 25.00 trillion from 26.29 trillion a year earlier, while operating profit improved to KRW 2.23 trillion from 1.96 trillion. Samsung said it saw higher shipments of the Note 5 as well as its mid-range A series phones, and tablet shipments were also higher on a quarterly basis due to strong seasonality. For the first quarter, Samsung said smartphone and tablet demand will decline due to normal seasonal patterns, while its own earnings should improve thanks to new models and a better product modex. Shipments will decrease slightly due to weak seasonality and discontinuation of old models. For the full year 2016, Samsung expects only single-digit growth in the smartphone and tablet market and strong competition.
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Category:Telecommunications