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Samsung Electronics Q4 profit sags

Thursday, 23 Jan 2014 | 6:57 PM ET

Samsung Electronics Co posted its first decline in quarterly profit in two years, hit by a one-off special bonus as well as slowing smartphone sales as it braces for a year of tougher competition with rival Apple Inc.

The South Korean maker of Galaxy-brand smartphones said October-December operating profit fell 6 percent on year to 8.3 trillion won ($7.73 billion), in line with its previous estimate.

(Read more: Biggest loser of Apple-China Mobile deal: Samsung)

Samsung Galaxy Note 3
Getty Images
Samsung Galaxy Note 3

Operating profit at its cash cow mobile division stood unchanged at 5.47 trillion won, but slipped 18 percent from July-September's record 6.7 trillion won as new iPhones from Apple drew away sales during the year-end holiday period.

Shares of Samsung Electronics, worth $204 billion, closed down 2.2 percent on Thursday, compared with the benchmark index which was 1.2 percent lower.

(Read more: Samsung 'planning three-sided smartphone screen')

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