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](https://mobitrends.co.ke/wp-content/uploads/2014/10/image-Samsung-to-pump-14.7-Billion-in-a-new-Semiconductor-Plant.jpg)
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.
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Kevin is a tech enthusiast and the lead writer at MobiTrends.co.ke. He has been writing about smartphones and tech related topics since October 2012. About Us | Contact Us
