Samsung Electronics Co Ltd is heading for its first annual earnings drop since 2011 after it revealed its July-September profit would be the lowest in more than three years and said short-term prospects for smartphones were uncertain. The world's smartphone leader has seen its global market share decline in annual terms for the past two quarters, according to Strategy Analytics, out-classed by Apple Inc's (AAPL.O) iPhones in the premium segment and undercut by Chinese rivals like Lenovo Group Ltd and Xiaomi Inc at the bottom end. Samsung said in a regulatory filing on Tuesday that operating profit for the third quarter likely fell 59.7 percent to 4.1 trillion won ($3.8 billion), well below a mean forecast of 5.6 trillion won tipped by a Thomson Reuters I/B/E/S survey of 43 analysts. Samsung said in a statement that although "uncertainty" persisted in the mobile business, which accounted for nearly 70 percent of its 2013 operating profit, it "cautiously expects" higher shipments of new smartphones and strong seasonal demand for TV products.
via Business News http://ift.tt/1uTmofH
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