- Samsung (SSNLF) suffered its first fall in profits in nine quarters in Q4, with the company's operating income dropping to a provisional 8.1-8.5T won ($7.6-8B) from 8.84T won a year earlier and missing consensus of 10T won.
- Revenue increased 5.3% to 58-60T won from 56.1T won but undershot forecasts of 61.5T and represented the slowest growth since 2011.
- The decline in profits comes amid stiff competition at the high and low ends of the smartphone market, and after greater-than-expected bonus payments to workers.
- Samsung's full results are due out on January 24.
- Shares dropped 0.2% in Seoul. (PR)
Samsung profit drops for first time in over two years
Jan 7 2014, 02:22 ET