Hinting at a Slowdown, Operating Profit for Samsung Rises Only Fifteen Percent
With a drop in the number of smartphone sales last year, Samsung Electronics said that the company would arrange a turnaround through use of components which are a must for electronics including screens, circuits and the essential chips.
The company said on Friday, its operating profit went up in the fourth quarter by almost fifteen percent. That's not much compared to the approximately eighty percent climb in the third quarter.
The company's results revealed how vulnerable is it to the demand weakness globally although it dominates the all important memory-chip and display markets.
The South Korea based electronics company somewhat managed to jump the weak prices for memory chips in 2015 due to advanced technology. It charges a premium amount in spite or lower cost of production.
However, not leaving much hope of a recovery further even the price of those items dropped in recent times.
A Sanford C. Bernstein analyst, Mark Newman, said "It's not going to be a disaster for memory or for Samsung. But for Samsung, it makes sense that they're not going to be able to outperform the rest of the market as they had been doing the previous three or four quarters."
- Virginia lawmakers remain committed to ban Skill Games next year
- Long-time employee Mary Harville becomes Kentucky Lottery’s first female CEO
- iSoftBet’s much-anticipated new Western Gold Megaways video slot launched fully
- Las Vegas Convention & Visitors Authority to acquire Las Vegas Monorail for over $24 million
- Leading investment bank ‘unsure’ about upcoming Resorts World Las Vegas Casino’s success