Samsung Q4 2013 profit dropped by 11 percent


South Korean electronics behemoth, Samsung has released reports of its first quarterly slump in a couple of years as the mobile unit experienced decrease in revenues.

The leading electronics firm stated $7.7bn earnings for Q4, a reasonable 18 percent slip in contrast to the third quarter.

As per the figures, Samsung has dropped 11 percent from the past three months.

The major reason for drop in earnings is the mobile unit which was responsible for a decisive 18 percent loss on quarterly basis.

Alongside this, special bonus payments and currency up and downs also harmed its quarter-to-quarter profits.

Samsung’s boss of Investor Relations, Robert Yi commented “By collecting the quarterly profits, we look forward to 2014 to be the same as previous year’s scheme of a struggling first six months and an inspiring last six months.”

Samsung has managed its smartphone unit in such an incredible way that it eventually dominated Nokia as the largest handset manufacturer on the planet.

On the other hand, US giant Apple has left no stone upturned to decrease the influence of Samsung to a certain extent in the market.

In September 2013, Apple came up with its two new variants, the high-end iPhone 5S and a cheap on with the name of iPhone 5C.

Apple has announced to disclose its Q4 fiscal results in a few days.

Analysts also suggest that the current slump in Samsung’s earnings may be a hint of users awaiting the much-talked flagship Samsung Galaxy S5, considered to be one of the major smartphone releases of the ongoing year.