By John Glenday

Profits at South Korean technology giant Samsung have slid by 20 per cent over the second quarter after the manufacturer weathered a dip in smartphone sales combined with a strengthening of the South Korean Won and ‘escalating’ marketing spend.

The technology goods juggernaut posted a net profit of 6.25tn Won in the April-June period, down from the 7.77tn it received a year ago, a 17 per cent quarter on quarter fall.

In a statement Samsung said: “The second quarter was affected by several factors including the slow global sales of smartphones and tablets and escalating marketing expenditure to reduce inventory.

“Samsung expects to Read full story ›

Source: The Drum