Samsung Electronics' 4Q earnings sink 40 percent
{{#rendered}} {{/rendered}}
Samsung Electronics says its earnings for the final quarter of 2015 have plunged 40 percent over a year earlier.
The South Korean company said Thursday its October-December net profit was 3.2 trillion won ($2.7 billion). The result falls short of expectations. Analysts expected 5.05 trillion won in net income, according to FactSet, a financial data provider.
Sales were up 1 percent to 53.3 trillion won while operating income rose 16 percent to 6.1 trillion won, in line with its earnings preview earlier this month.
{{#rendered}} {{/rendered}}
The latest results reflect new challenges for Samsung as two core businesses, smartphones and semiconductors, face a slowdown. Weakening global demand for smartphones is taking a toll on Samsung's sales of mobile components to companies like Apple, as well as sales of Samsung's own mobile devices.