Tuesday, 7 October 2014

Samsung Profits on Hold

Electronics giant Samsung has forecast a profit plunge of almost 60% in the last quarter but promised it would soon release a new range of smartphones with "innovative designs". Its phone sector has come under pressure because of increased advertising spend and lower retail pricing, squeezing margins for the firm. Expected profits are around 20% (£24.9bn) down from 2013. Shares in Samsung are currently at a two year low.