Samsung flags 15pc increase in Q4 operating profit

AFP, SEOUL: Samsung Electro-nics  yesterday  flagged a 15 per cent increase in 2015 Q4 operating profit, rounding off a year in which the world's largest smartphone producer struggled with fierce competition from arch-rival Apple and cut-price Chinese competitors. In an earnings estimate, the South Korean tech giant predicted an operating profit of 6.1 trillion won ($5.1 billion) for the October-December period, up from 5.4 trillion won a year earlier. The figure was below the estimate of 6.64 trillion won given by analysts surveyed by Bloomberg News, and also marked a 7.5 per cent drop from the previous quarter. Samsung lost more than $8.0 billion in market value in 2015, with its flagship smartphone business sandwiched by top-end rivals like Apple's iPhone and lower-end devices from fast-growing Chinese outfits like Huawei and Xiaomi. Sales of the Galaxy S6 -- the latest edition of Samsung's top-of-the-range handset, launched in April -- failed to generate much excitement among consumers. The company's shares posted a third straight annual decline last year, dropping 5.1 per cent. Sales were expected to be 53 trillion won in the fourth quarter, the company said, again slightly below analyst estimates. Friday's forecast, which comes ahead of audited results to be released this month, did not provide a net income figure or breakdown of divisional earnings. Losses in Samsung's mobile division have partially been mitigated by brisk business in chips and displays. That is because as well as providing the chips for the company's own handsets, Samsung's semiconductor unit also makes the processors for a number of other companies -- including Apple.

Samsung flags 15pc increase in Q4 operating profit

AFP, SEOUL: Samsung Electro-nics yesterday flagged a 15 per cent increase in 2015 Q4 operating profit, rounding off a year in which the worlds largest smartphone producer struggled with fierce competition from arch-rival Apple and cut-price Chinese competitors. In an earnings estimate, the South Korean tech giant predicted an operating profit of 6.1 trillion won ($5.1 billion) for the October-December period, up from 5.4 trillion won a year earlier. The figure was below the estimate of 6.64 trillion won given by analysts surveyed by Bloomberg News, and also marked a 7.5 per cent drop from the previous quarter. Samsung lost more than $8.0 billion in market value in 2015, with its flagship smartphone business sandwiched by top-end rivals like Apples iPhone and lower-end devices from fast-growing Chinese outfits like Huawei and Xiaomi. Sales of the Galaxy S6 -- the latest edition of Samsungs top-of-the-range handset, launched in April -- failed to generate much excitement among consumers. The companys shares posted a third straight annual decline last year, dropping 5.1 per cent. Sales were expected to be 53 trillion won in the fourth quarter, the company said, again slightly below analyst estimates. Fridays forecast, which comes ahead of audited results to be released this month, did not provide a net income figure or breakdown of divisional earnings. Losses in Samsungs mobile division have partially been mitigated by brisk business in chips and displays. That is because as well as providing the chips for the companys own handsets, Samsungs semiconductor unit also makes the processors for a number of other companies -- including Apple.