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Samsung posts 48.8pc drop in Q3 net profit SEOUL: Samsung Electronics said Thursday its third-quarter net profit plunged nearly 50 percent from a year ago amid growing competition from Chinese rivals in the increasingly saturated market. Net profit for the South Korean electronics giant amounted to 4.22 trillion won ($4 billion) for July to September -- the lowest such figure since the fourth quarter of 2011.Operating profit also dropped 60 percent from a year ago to 4.06 trillion won, slightly less than its earlier forecast of 4.1 trillion won. Sales also tumbled about 20 percent to 47.4 trillion won, Samsung said in a statement."Despite a marginal increase in sales volume, the (mobile unit) saw earnings fall for two consecutive quarters, as smartphone average selling price declined due to reduced prices for older models and increased sales of middle-end smartphones," it said. Samsung -- the world's largest manufacturer of smartphones and TVs -- earlier reported a 20 percent drop ...

Samsung's Q3 profit plunges to near three-year low SEOUL: Samsung reported its smallest quarterly profit in nearly three years Thursday as its key smartphone business faltered under competition from Apple's iPhone6 and Chinese handset makers in an increasingly saturated market. Net profit for the South Korean electronics giant amounted to 4.22 trillion won ($4 billion) for July to September, marking a dramatic fall of 48.8 percent from a year ago, and the lowest figure since the fourth quarter of 2011. Operating profit also ...
Samsung seeks smartphone revamp to arrest profit slide SEOUL: Samsung Electronics Co Ltd on Thursday said it would revamp its smartphone line-up to take on competitors in the rapidly growing mid-to-low range segment, after third-quarter earnings set it on course for its worst year since 2011.The global smartphone leader's market share declined in annual terms for the third straight quarter in July-September, lagging Apple Inc in the premium market and overtaken by rivals like Lenovo Group Ltd and Xiaomi Inc at the bottom ...
Singapore group wins bid for new Myanmar airport YANGON: A Singaporean-led group has won a $1.4 billion bid to build a second international airport in Myanmar's commercial hub Yangon, authorities said Wednesday, as the long-isolated nation gears up for a dramatic increase in foreign arrivals.The winning consortium, which includes Singapore-based engineering and construction group Yongnam and a subsidiary of Singapore's Changi airport, will build and run Hanthawaddy International on the outskirts of Yangon by December 2019, according to Myanmar's civil aviation department.Hanthawaddy International, ...
Hyundai plans to take on Toyota's Prius with new hybrid model SEOUL: South Korea's Hyundai Motor Co said it is developing its first dedicated gas-electric car that would go up against Toyota Motor Corp's best-selling Prius.The move will help it diversify its eco-friendly vehicle line-up and hedge its bets in next-generation green technology to meet stricter emission regulations in key markets.More than other automakers, Hyundai has championed fuel-cell powered vehicles and this year began to sell what it says are the industry's first fuel cell models ...
France's Total beats Q3 profit forecasts, CEO to visit oil leaders PARIS: French oil company Total's new chief will visit oil-rich countries to cement links with their leaders after the sudden death of his predecessor and will go ahead with cost cuts after falling oil prices squeezed third-quarter profits.Europe's second-largest oil company elevated former refining head Patrick Pouyanne to the top post following the death this month of its charismatic chief executive Christophe de Margerie in a plane crash in Russia.Pouyanne said he would carry out ...
Nintendo logs $132mn first-half net profit TOKYO: Japanese videogame giant Nintendo said Wednesday its first-half net profit soared to $132 million as a sharply weaker yen boosted its bottom line and offset slowing sales.The Kyoto-based company earned 14.3 billion yen between April and September, way up from 600 million yen in the same period a year ago, despite sales falling 12.8 percent to 171.4 billion yen on lacklustre demand for its 3DS games system.Nintendo kept its full-year 20 billion yen profit ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln