[image] Samsung to pump $14.7 Billion in a new Semiconductor Plant

Samsung Reports a 73.9% drop in its Q3 2014 Profits

October 30, 2014
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Samsung has reported a 73.9% drop in its Q3 2014 profits. Samsung’s consolidated revenue for Q3 2014 were $44.7 billion, a sharp contrast from the $56 billion the company reported for the same period in 2013. Its Q3 2014 revenues are the lowest for the company since those of Q3 2011.

[image] Samsung to pump $14.7 Billion in a new Semiconductor Plant

 

Samsung Mobile, the company’s mobile division, saw a 15% drop in sales and this brought forth a dive in its profits from $4.179 Billion (Q2 2014) to $1.653 Billion. Samsung attributes the declining sales to its weak product mix.

Samsung sold more entry-level and mid-range smartphones for the Q3 2014 period and consequently this led to a significant drop in its Average Selling Price. The Samsung Galaxy S5 sales dropped significantly during this period and Galaxy Note 4 was unveiled just before the end of Q3.

Samsung reported a surge in its tablet sales, particularly the Galaxy Tab S range. The increased tablet sales did not, however, cover the dismal Smartphone sales. Samsung is optimistic that smartphones and tablets sales will keep up during the holiday season.

Closely Related: Apple Chips Supply Deal Expected to Boost Samsung’s Sales

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Kevin is a Passionate Technology Enthusiast and the Lead Writer at MobiTrends. He has been writing about Smartphones and Mobile Technology since 2012. Drop him your comments below :)

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