Samsung Electronics has just released its earnings report for Q4 of 2014.
The Korean electronics giant posted a profit of 5.29 trillion won (approx $4.87 billion), which despite beating estimates, represents a fall in profits by more than a third, compared to the same period one year ago.
Samsung’s mobile division which is ordinarily the driving force behind the company’s profits, posted profits of 1.96 trillion won for Q4, due to strong sales of the Samsung Galaxy Note 4. However, this is a fall in profits of some 60% compared to the same period the previous year.
Samsung has said it expects its mobile business to grow during 2015, and highlighted the emerging markets of India and China, as well as the global expansion of 4G LTE as further reason for its growth.
In its statement, Samsung said it will focus on “new materials, innovative design and differentiated features” in order to drive sales of its smartphones in the future.
Samsung has also said it will place bigger emphasis on marketing the new Galaxy A series of smartphones before the launch of its flagship Samsung Galaxy S6, which is rumoured to be showcased at Mobile World Congress in March.
With regards to tablets, Samsung said it produce more premium and affordable devices in 2015, and will also continue to focus on offering a wide range of wearable devices.
The news of Samsung’s fall in profits comes a day after Apple posted the biggest quarterly profits in history.
As well as Apple, the Korean electronics has also had to compete with the emergence of Xiaomi, which has overtaken Samsung in China by offering high spec, low cost mobile devices.
Jonathan is our Google Nexus and Android enthusiast. He is also fanatical about football which makes it all the more strange that he should support Stockport County. In addition to writing about tech, Jonathan has a passion for fitness and nutrition and has previously written for one the UK’s leading watch and horology websites.