Tags: Revenues, Sales

Samsung Electronics posts falling profit figures

Samsung Electronics is the world’s third largest maker and seller of mobile phones after Nokia and Motorola and they have just come out with their latest quarterly revenue reports.

The South Korean company has posted an 11 percent drop in second-quarter profit.

Samsung seems to have suffered from lowering the prices of their mobile handsets to compete against rival mobile phone makers.

This has resulted in dropping profit margins on consumer products hurting their bottom-line.

Samsung’s second-quarter net income fell to 1.5 trillion won from 1.7 trillion won a year earlier. The operating profit declined to 1.4 trillion won from 1.6 trillion won. However, effective pricing of products helped company raise its sales to 14.1 trillion won from 13.6 trillion won.