Samsung Profits Dip for the Second Consecutive Quarter
Samsung Electronics saw earnings dip in the first quarter – for the second consecutive quarter – as margins were squeezed by competition in the high-end smartphone market (ahem, Apple). The dip contrasts with rival Apple, whose smartphone unit sales jumped 17 per cent in the first quarter, driving an overall 5 per cent rise in sales to $45.6bn and helping Apple's earnings growth hit its highest rate in six quarters, with net profit of $10.2bn.
According to the Financial Times, the world's largest mobile phone maker said operating profit fell 3.3 per cent year-on-year to Won8.49tn ($8.2bn) in the January-March period while sales increased 1.5 per cent to Won53.68tn.
A second report quoted research firm Strategy Analytics stating that "Samsung Electronics smartphone shipments rose 28% to 89 million units in the first quarter, but the world's top handset maker lost market share to Chinese and other rivals. Specifically, Samsung's smartphone market share fell to 31.2% from 32.4% a year ago.
About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Comments are reviewed daily from 4am to 7pm PST and sporadically over the weekend.