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Samsung Q4 profit falls short of expectations

2016-01-08 08:56:00| Telecompaper Headlines

(Telecompaper) Samsung Electronics said its fourth-quarter operating profit rose by 15 percent year-on-year, less than market estimates. In a preliminary report, the company said operating profit rose to KRW 6.1 trillion from KRW 5.29 trillion a year earlier, and quarterly revenues were up 0.5 percent year-on-year to KRW 53 trillion. Full results for the quarter will be released at the end of January. Samsung earlier forecast a difficult year ahead for the electronics giant, due to increasing competition in smartphones and semiconductors and the weak global economy. Especially in emerging markets the company sees financial risks, said CEO Kwon Oh-hyun in a New Year message to employees, media reported. 

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