Samsung sales hit by smartphone business

Piccadilly Circus, pic Mike MageeKorean giant Samsung released its fourth quarter figures and shows it is being adversely affected by sales of smartphones.

As well as manufacturing smartphones, Samsung also makes chips inside the devices as well as displays, meaning it’s hit by a triple whammy.

The company said its results amounted to 53 trillion in the quarter – around about the same figure as this time last year.

It won’t release net profit figures until later in this month after the results have been independently audited.

Sales of smartphones are falling due to a largely mature market and Samsung in particular faces competition from a number of Chinese manufacturers digging into its market share.