South Korean electronics giant posts $7.7 billion operating profit, an 18 percent quarterly decline on softening smartphone sales and a one-time employee bonus. January 23, 2014 4:40 PM PST Samsung Electronics on Thursday posted its first quarterly decline in operating profits in two years, stung by softening smartphone sales and a one-time employee bonus. The South Korean electronics giant recorded an operating profit of 8.31 trillion won ($7.73 billion) for the quarter ended December 31, its first decline since 2011 and an 18 percent drop from the previous quarter's record earnings. Its revenue for the quarter was 59.3 trillion won. Whole in line with guidance Samsung offered earlier this month, the South Korean electronics giant's fourth-quarter operating profit came in below the analysts' average expectation of 10 trillion won. Samsung's mobile unit, which traditionally provides two-thirds of the company's profits, recorded a fourth-quarter operating profit of 5.47 trillion won, an 18 percent decline from the record 6.7 trillion won profit the division posted in the third quarter. The company paid an 800 billion won bonus to employees last quarter to commemorate Chairman Lee Kun-hee's new Management strategy.
South Korean electronics giant posts $7.7 billion operating profit, an 18 percent quarterly decline on softening smartphone sales and a one-time employee bonus.
Samsung Electronics on Thursday posted its first quarterly decline in operating profits in two years, stung by softening smartphone sales and a one-time employee bonus.
The South Korean electronics giant recorded an operating profit of 8.31 trillion won ($7.73 billion) for the quarter ended December 31, its first decline since 2011 and an 18 percent drop from the previous quarter's record earnings. Its revenue for the quarter was 59.3 trillion won.
Whole in line with guidance Samsung offered earlier this month, the South Korean electronics giant's fourth-quarter operating profit came in below the analysts' average expectation of 10 trillion won.
Samsung's mobile unit, which traditionally provides two-thirds of the company's profits, recorded a fourth-quarter operating profit of 5.47 trillion won, an 18 percent decline from the record 6.7 trillion won profit the division posted in the third quarter.
The company paid an 800 billion won bonus to employees last quarter to commemorate Chairman Lee Kun-hee's new Management strategy.
