Samsung posted earnings in line with expectations early Thursday morning, noting a sharp slowdown in growth that the company believes will continue through 2016. Samsung said on Thursday that it earned a fourth-quarter operating profit of 6.14 trillion Korean won, or approximately $4.4 billion. The figure marks a healthy 16% gain, however Samsung said net profit tumbled 40% to 3.2 trillion Korean won, or $2.7 billion, due to nonoperating expenses.
The sharp slide comes in the same quarter that Samsung’s chief rival Apple posted a net profit that inched up to $18.4 billion, besting its own prior record and marking the most profitable three-quarter period any company has ever reported. More →