From DailyTech: Samsung Electronics Comp., Ltd. (KRX:005930) (KRX:005935) like would be happy to wash its hands of its holiday quarter. The South Korean electronics giant saw bad go to worse, with a string of product disappointments for the quarter, capped with Wednesday evening's embarrassing earnings release.
For its Q4 FY2014 (calendar Q4), Samsung made little progress on the financial front with profit plunging to KRW¥5.29T ($4.87B USD) on a revenue of KRW¥52.73T ($48.6B USD). That's down more than 36 percent and 11 percent, respectively, from the profit of KRW¥8.31T ($7.65B USD) Samsung posted during the 2013 holiday quarter on a revenue of KRW¥59.28T ($54.6B USD).
After creeping close to Apple in quarterly profit back in 2013, Samsung has backslid ever since on the financial front. It now is making a little over a fourth what Apple made for the quarter (Apple's profit was $18B USD).
Bear in mind the 2013 holiday quarter was hardly cause for celebration, with Samsung announced last January its first profit drop in two years. But if Q4 FY2013 was bad, Q4 FY2014 was worse.
Perhaps most troubling is the fact that Samsung sold only 95 million total feature phones and smartphones. To put that number in comparison, Microsoft Corp. (MSFT) sold 50.2 million total phones for the quarter. You read that right -- with feature phones included Samsung could not even outsell good old Nokia Oyj.'s (HEL:NOK1V) veteran unit 2-to-1.
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