Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 this upcoming January 25-27, 2022. Learn more about the event. 

Samsung has released its second-quarter earnings report, and the news is not as sunny as you’d expect for the world’s #1 maker of smartphones.

The South Korean company posted an operating profit of $7.1 billion, significantly off the analysts’ estimates of about $8.5 billion for the second quarter of 2014.

This is the first time in two years that the company has posted quarterly earnings below 8 trillion won (about $7.9 billion).

Bloomberg reports that the company is hurting on both its high-end and low-end market segments. On the high end, #2 smartphone maker Apple is cutting into the company’s sales. An expected large-screen iPhone 6 later this year will further eliminate Samsung’s traditional advantage versus iOS devices: Its huge displays.

On the low end, cheap Chinese smartphone makers like Xiaomi (which poached senior Android exec Hugo Barra in August, 2013) and LG have successfully nibbled away at its market share.

Shares of Samsung fell 1.1 percent to 1,292,000 won yesterday, Bloomberg reports, adding that the company’s stock fell almost 10 percent in 2013, its first yearly decline since 2008.




VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member