SAMSUNG PREDICTS 60% FALL in PROFIT

The company announced that it foresees a fall in its net profit of approximately 60% in the third quarter of 2014, due to increased competition in the Smartphone market. According to the company, Samsung smartphones exports grew, however, "operating margins were reduced." The operating result for the third quarter will be € 3,060 billion, 59.6% below the result obtained in the same period the previous year. This can be explained by increased marketing spending and by falling sales prices, in addition to the strong competition, with the American Apple and the Chinese Huawei and Lenovo that reach emerging countries with cheap smartphones.