10 Updates

Samsung's 4Q profit hit by slowing mobile growth

Jan 6 2014, 10:48pm CST | by

Samsung's profit falls for first time in 2 years, highlights smartphone challenges. SEOUL, South Korea (AP) — Quarterly earnings at Samsung Electronics Co. fell for the first time in...

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29 weeks ago

Samsung's 4Q profit hit by slowing mobile growth

Jan 6 2014, 10:48pm CST | by

Samsung's profit falls for first time in 2 years, highlights smartphone challenges.

SEOUL, South Korea (AP) — Quarterly earnings at Samsung Electronics Co. fell for the first time in two years as sales of smartphones and tablets slowed in developed countries.

The South Korean company Tuesday estimated an operating profit of 8.3 trillion won ($7.8 billion) for the final three months of 2013, a 6 percent decline over a year earlier. The result was lower than forecast by analysts and an 18 percent drop from the third quarter. Sales rose 5 percent to 59 trillion won ($55.4 billion).

Since the last quarter of 2011, Samsung's operating income has increased every quarter, peaking at 10.2 trillion won in the July-September period. The fourth quarter performance shows that explosive growth in Samsung's lucrative mobile device business has come to a halt.

It will release its net profit result for the fourth quarter later this month.

Analysts said Samsung's profit fell because its businesses supplying advanced displays and chips for iPhones and Galaxy smartphones posted smaller profit. They said Samsung's smartphone business making Galaxy smartphones and Galaxy Gear smart watches was not as lucrative as before because of higher marketing costs.

"It's an earnings shock," said analyst James Song at KDB Daewoo Securities Co. "The profit at mobile communications business must have been much lower than expected although it's likely that Samsung gave bigger bonuses to employees." Song had estimated 9.3 trillion won of operating profit for Samsung.

Samsung Electronics' smartphone business also faces more competition in China. Starting next week, Apple Inc. is scheduled to begin selling iPhones through China Mobile Ltd., the world's largest wireless carrier, a move that could threaten Samsung's growth in the smartphone market.

Samsung held 21 percent market share in China's smartphone market during the third quarter, up from 14 percent a year earlier, while Apple's share declined to 6 percent from 8 percent, according to research firm Canalys.

Source: AP Business

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was told toda ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by robber ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected b ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddi ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern states last month. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Ministe ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation of RM20 mil ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Scheme 2014 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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