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The company has managed to break its own records as far as revenues are concerned, raking in a whopping $54.9 billion, up 0.3 percent from last quarter. The overall profits for the same period stood at $7.8 billion, which is down 18 percent QoQ. Although the lower than expected profits had nothing to do with the weakening demand. instead, Samsung has stated that it sold record tablets in the last quarter. It’s tablet sales have nearly doubled from the last year, while the mobile sales are still strong (even after they took a little dip from last quarter). The mobile division’s overall revenue was down to close to $32 billion and the net profits off that were again down to $5.09 billion.One reason for the drop in revenue was the one time cost that came with Samsung paying bonuses to close to its 254,000 employees worldwide to mark the 20th anniversary since the new CEO stepped in and changed thing around in the company. Also, the company spent a considerable amount this quarter on marketing and advertising. Going forward, Samsung expects stiff competition in the mobile segment. It is also looking to expand its wearables and OLED and Ultra HD TV business.
Source:koreanewswire
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