The South Korean technology giant is down by 40% in net profit in the fourth quarter.
Net income for the period October-December 2015 amounted to 3.22 trillion won (2.7 billion), down 39.7% from the same period last year, announced on Thursday in Group a statement. This is below analysts’ expectations.
Samsung warned in October that its net income could resume its downtrend in the last quarter in 2015 due to changes in exchange rates. Operating income is meanwhile up 16.1% year on year to 6.1 trillion won, in line with the latest forecasts of the group.
If it remains the number one smartphone, according to specialist firms, Samsung is facing a slowdown in demand and lost market share to the US Apple in the high end and meet its Chinese rivals booming like Huawei in the entry.
The title was down 0.9% on Thursday morning at the stock exchange in Seoul. (Ats / nxp)