Samsung's profits fall tremendously as larger iPhones eat into sales

Samsung Electronics announced this week that its profits fell 39 percent year-over-year as Apple's latest offerings cut into sales. For the quarter ended March 31st, net profit was 4.63 trillion won ($4.35 billion), down from 7.49 trillion in the same period last year. Most of the loss in profits was due to the underperforming mobile division, which saw profits of just 2.74 trillion won ... [ read the full article ]