Samsung on Tuesday morning reported its unaudited earnings results for the fourth quarter of 2013, missing analysts’ estimates and raising concerns about the coming year as high-end smartphone sales growth continues to slow. Samsung said that its fourth-quarter operating profit will likely come in at around 8.3 trillion won, or $7.8 billion, which represents a 6 percent decline compared to the same quarter in 2012. Also Read - Gorilla Glass DX, DX+ to now protect your phone cameras, will debut on a Samsung phone
The holiday quarter is typically the biggest quarter of the year for consumer electronics giants thanks to the holiday shopping season, however Samsung’s profit actually declined a troubling 18% compared to the third quarter last year. Samsung said that bonuses paid out in the fourth quarter related to the company’s new management strategy totaled nearly $1 billion, which had a huge impact on Samsung’s earnings. Also Read - Samsung Galaxy M21 2021 vs Redmi Note 10: Which is better under Rs 15,000?
The company reported sales last quarter that totaled an estimated 59 trillion won, or about $55.2 billion, down from $55.6 billion in the third quarter last year.
Samsung shares closed down less than 1 percent on Tuesday at 1,304,000 won.