Samsung’s Q4 2013 growth misses the mark, profits fail to increase
Samsung shipped millions of smartphones and tablets in 2013, but growth for the company seems to have been stuck in a rut in the last few months. Samsung has posted its preliminary earnings results for Q4 2013, and estimates suggests the figures are not as high as the company and analysts had hoped they would be. Profits came in at 8.3 trillion won ($7.8 billion), lower than the 9.0 trillion won in Q4 2012, and way below the 10 trillion won that analysts had predicted.
Sales have also slowed down, remaining unchanged from the previous quarter at 59 trillion won ($55.2 billion). Many reasons are attributed to the slow growth – saturation in the high-end market, release of Apple’s two new iPhones, and the rise of Chinese and other small companies that offer better bang for the buck in the budget and mid-range category.
However, since these are preliminary results, the actual figures might be rather different when Samsung official announces the results. In case they aren’t, well, Samsung will likely be hoping that the many new PRO tablets, the Galaxy S5, and the plethora of upcoming Lite devices will do something to change things around going forward.