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Samsung Warns Sales And Operating Profit Were Way Down Last Quarter

Matt RosoffJan 8, 2015, 06:09 IST

Samsung warned today that revenues and operating profit in the last quarter of 2014 were down sharply from a year ago.

In a preliminary report, the company said it expects sales of between 51 trillion and 53 trillion won ($46.4 billion to $48.3 billion) and operating profit of 5.0 billion to 5.4 billion won ($4.55 billion to $4.92 billion).

That would be a drop of about 12% in revenue and 37% in operating profit.

This would be the first annual fall in profit for the company since 2011, Reuters reports.

We'll get more details when Samsung reports earnings later this month.