From DailyTech: South Korea's Samsung Electronics Comp., Ltd. (KRX:005930) (KRX:005935) continued to struggle on the high end last year. Following a dire decline in profitability in Q3 2014, the holiday quarter brought more of the same. The holiday quarter left Samsung reeling from a 36 percent drop in profit and reportedly lost its grip on the title of the world's best-selling smartphone company, which Apple, Inc. (AAPL) claimed for the quarter.
But things are now looking up for Samsung, who's hoping to turn the corner in 2015. In early March it announced the arrival of long-anticipated metal-body Galaxy S series smartphones. These new flagship smartphones, the Galaxy S6 and S6 Edge, are set to hit U.S. stores this Friday (April 10).
And on Monday Samsung shares continued to climb after an upbeat earnings forecast issued last Wednesday to reporters in Seoul, South Korea. The forecast was delivered by Samsung Future Strategy Office's chief communications officer, Lee Joon.
Analysts were predicting Samsung Electronics to post a fiscal Q1 2015 profit of KRW¥5.4T ($5.01B USD), down more than 36 percent from the KRW¥8.49T ($7.87B USD) that Samsung had posted in the first quarter of 2014. The prediction seemed reasonable given the similar slump in Q4 2014, which reduced profit for the holiday quarter to KRW¥5.29T ($4.90B USD).
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