Profit Samsung in the fourth quarter fell by 40%

Moscow. January 28. The South Korean consumer electronics manufacturer Samsung Electronics Co. reduced net profit in the fourth quarter of 2015 40% on weak smartphone sales.

As reported in a press release, Samsung’s net profit in October-December fell to 3,24 trillion won ($2.7 billion), compared with 5.4 trillion won in the same period of the previous year. Analysts polled by Bloomberg, on average, not expected changes in the indicator.

Samsung operating profit increased by 16% to 6.14 trillion won. Revenue has changed little and amounted 53,32 trillion won.

Operating profit units Samsung, which produces mobile devices increased by 14%, to 2.23 trillion won. Meanwhile the operating profit of the division, which produces chips grew last quarter by only 3.7 percent to 2.8 trillion won.

Operating profit units for the production of consumer electronics, including TVs and appliances, jumped four times, up to 820 billion won. The profits of a business for the production of displays decreased by 36%, to 300 billion won.

According to experts of the company Strategy Analytics, global smartphone sales in the fourth quarter of 2015 increased 6%. Sale Samsung amounted to 97 million units, including budget phones and 9 million tablets.

On the eve of Apple’s major rival Samsung, has warned that the increase in iPhone sales in the last quarter was the smallest in history. Samsung also noted that the deteriorating situation in the global economy undermines demand for electronics and puts pressure on the prices for components.

Samsung plans to introduce two new models of smartphones Galaxy S at the mobile electronics fair, which will be held in Barcelona in February.

By the end of 2015 operating profit Samsung has grown to 26,41 trillion won with 25,03 trillion won in the previous year, revenue decreased from 206,21 to 200,65 trillion won.

The company also announced its intention to buy back own shares amounting to 3 trillion won.

Samsung shares in the auction on Thursday fell by 2.9%, from the beginning of this year their cost has fallen by 9%.