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January 24, 2014

Samsung Electronics Q4 profit dips first time in 2 years

Samsung Electronics Q4 profit dips first time in 2 years - Business Today: "For the first time in more than two years, Samsung Electronics' quarterly net profit declined from the previous quarter, the South Korean electronics powerhouse said, amid deepening concerns about slowing growth in smartphone markets. 



 The maker of the Galaxy smartphone on Friday said its net earnings for the October-December period fell 11 per cent from the third quarter to 7.3 trillion won ($6.8 billion). It's the first time in nine quarters that profit didn't grow from the previous quarter. Compared to a year earlier, net earnings inched up 4 per cent. 



The results fell short of market expectations. Analysts polled by FactSet expected earnings of 7.5 trillion won. Samsung Electronics Co blamed the strong won, high marketing costs to promote Galaxy devices and other one-time expenses, such as special bonuses to employees.".