Samsung Electronics' 4th quarter profits dip as smartphone sales dropUpdated: 2014-01-24 19:54:31 KST
The world's biggest smartphone maker on Friday posted disappointing fourth-quarter results, although its operating profit for all of 2013 reached an all time high of 36 trillion won, or over 33-billion U.S. dollars.
Posting the first decline in its quarterly performance, Samsung said its profit for the October-to-December period fell 18 percent to 7.7 billion dollars from the previous quarter.
This was also down 6 percent from a year earlier.
The company said its profits were hit by the strength of the won.
But the disappointing result was mainly due to its worse-than-expected earnings from its main smartphone business, which accounts for two-thirds of the company's entire operating profit.
Yet the Korean brand maintained a market share of 30-percent in both devloping and developed countries, reaffirming it as a top global brand.
A Samsung Electronics official said the company is aiming to sell some 4-billion smartphones this year, an increase of 10 percent from last year, by expanding its smartphone line with new models and lower prices and by responding to growing LTE demand in Europe and China.
The company's overall 2013 sales hit a record of 211 billion dollars, up 14 percent from a year earlier.
Its profits from its semiconductor and household appliance units both showed increases.
Analysts say the coming year will depend largely on its performances in business for high-end smartphones and premium TVs, particularly in state-of-the-art Ultra high-definition and curved panel televisions.
Shin Se-min, Arirang News.
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