• Samsung Profits Take a Dip in Second Quarter



    Quarterly profits for Apple’s rival company Samsung have been reported recently and it seems like the Korean-based company’s profits have dropped 8% compared to the same time in 2014. According to Samsung, the quarter ending in June only resulted a profit of 5.75 trillion Won (approximately $4.9 billion USD) for the Korean-based company. It was noted that the reason to blame could be due to the decline in mobile profits.

    Samsung apparently had a drastic drop in mobile profits compared to last year, going from 4.42 trillion Won to 2.76 trillion Won. This dip was a 37.6% decline year-over-year in the mobile department. The decline is definitely a huge number drop, it’s no wonder the company experienced an overall profit decrease. A big reason for this profit drop is probably due to Apple’s iPhone 6/6 Plus release last year. Samsung is known for their large Galaxy Note device but because Apple released a ‘phablet’ device as well, many consumers may have switched over.

    Another reason could be because of popular Chinese smartphone startup Xiaomi. The Asian market has definitely always been in favor of Samsung devices, but ever since the release of Xiaomi and iPhone 6 Plus, many have become in favor of other companies. The Cupertino-based company during the same quarter, grew 35% year-over-year and saw a 59% increase in revenue.

    Source: Samsung
    This article was originally published in forum thread: Samsung Profits Take a Dip in Second Quarter started by Akshay Masand View original post
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