Samsung forecasts 37% profit fall

Galaxy smartphone is losing market share
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Samsung has forecast a 37.4 per cent fall in its quarterly operating profit, from a year earlier.

The company announced an operating profit of 5.2tn (£3.14bn) Korean won for the three months to December last year.

Samsung revealed this news in its pre-earnings guidance, and analysts expect an operating profit of guidance of about 5tn won.

Samsung’s final fourth-quarter earnings are expected to come later this month.

The company’s flagship Galaxy smartphone line has been losing market share to other cheaper models.

This news comes after Samsung revealed a string of new products at CES this week.

The firm showcased the portable SSD T1, which is available in 250GB, 500GB and 1TB storage capacities, as well as a 105-inch bendable HD TV.

Read all of PCR’s CES 2015 news coverage here.

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