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Samsung Electronics' Q4 net down 27 pct

All Headlines 08:57 January 29, 2015

By Kim Seung-yeon

SEOUL, Jan. 29 (Yonhap) -- Samsung Electronics Co., the world's top smartphone maker, said Thursday its net profit fell 26.7 percent in the fourth quarter of 2014 from a year earlier, dampened by sluggish smartphone sales as its global rivals increased their shares in both the high- and low-end markets.

Net income came to 5.35 trillion won (US$4.93 billion) in the October-December period, compared with 7.3 trillion won the previous year, the company said in a regulatory filing.

Operating profit dipped 36.4 percent on-year to 5.29 trillion won, with sales sliding 11 percent to 52.7 trillion won over the cited period.

For all of 2014, the tech giant booked a net profit of 23.4 trillion won, down 23.2 percent from a year ago.

The operating profit fell 32 percent to 25.0 trillion won last year, with the sales of the whole year also sliding 9.9 percent to 206.2 trillion won.

The results came before the stock market opens. Samsung Electronics ended down 1.57 percent to 1,378,000 won on the main bourse Wednesday.


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