Samsung’s 60 percent decline in profits: the South Korean company published the quarterly report for the third quarter of 2017. Above all, the sinking sales figures for Galaxy smartphones are the reason for the immense loss.
As a result, Samsung has been experiencing the weakest quarterly result for more than three years. Overall, the Asian company's profit fell by 60 percent year-on-year to 3.09 billion euros (4.2 trillion won).
Apple again generates billions of dollars
In the mobile division, Samsung could only implement 1.31 billion euro (1.75 trillion won) profit. On the other hand, the company generated a profit of 6.7 trillion won during the period from July to September 2013. This represents a decrease of 74 percent.
The growing competition from Apple devices like the iPhone 6 or the iPhone 6 Plus and especially Chinese manufacturers such as Lenovo and Xiaomi put Samsung under enormous pressure. While the Samsung smartphones are cheaper than the iPhone but still more expensive than corresponding devices from Lenovo and Xiaomi. Market tendencies also show that the new Galaxy Note 4 can not prevail against Apple's new iPhone-6 models.
For the current fourth quarter of 2017, Samsung is cautiously optimistic and predicts a profit rise. However, not by the sale of mobile devices, but by the increased sales of Samsung products such as memory chips and television sets.
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