Samsung Electronics posted 6.1 trillion won ($5.1 billion) in operating profit for the fourth quarter of 2015, regulatory filing showed today.
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Samsung Electronics on Friday flagged a 15 percent increase in 2015 Q4 operating profit, rounding off a year in which the world’s largest smartphone producer struggled with fierce competition from arch-rival Apple and cut-price Chinese competitors. The company is scheduled to report its financial results for the fourth quarter in late January. The company’s profit for the third quarter rose 28 percent from the prior-year period.
After peaking at 10.1 trillion gained in the third quarter of 2013, Samsung’s operating profit hit a backside of 4.6 trillion gained in the corresponding interval of 2014 earlier than climbing again up progressively.
The securities firms also suggested sales of 53.6 trillion won for the fourth quarter. The amount marked a two-point-six percent growth on-quarter and a half-percent on-year growth.
Largan Precision Co. Ltd., which gets more than a quarter of its sales from Apple, this week said sales in December dropped 31 percent from a year earlier.
Analysts have recently lowered their forecasts on Samsung’s earnings for the final quarter of 2015, citing weak global demand for personal computers and smartphones that hurt its semiconductor business.
Samsung’s sales of smartphones were estimated in the mid-80 million unit range, nearly flat from three months earlier, but the rising portion of budget models in its lineup is feared to eat into its profitability, along with rising marketing costs.
Shares of Samsung rose 0.1 percent to 1,164,000 as of 9:04 a.m.in Seoul.
Operating profit at the consumer electronics division, which encompasses TVs and appliances, probably quadrupled to 750 billion won, helped by a steep slide in panel prices on top of stronger TV sales during the year-end shopping season, according to the analyst survey.
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