Samsung Says Profits Could Decline As Much As 60% In Q3

Samsung has long been making money in the mobile arena and they’ve quickly sold many more handsets than most other manufacturers in the Android space. However it seems that competition is finally starting to get to them as the company is currently warning that their profits could be much lower than expected.

The company is currently predicting a 4.1 trillion won, $3.8 billion dollar, operating profit during Q3 of the 2013 fiscal year. That is nearly a 60% decline over profits in the same quarter of last year which saw a 10.2 trillion won profit. This is surprising as smartphone sales went up. The loss comes from increased marketing costs and lowering prices. 



Source: Samsung