Is the Samsung era over? Profits drop 30 per cent, company estimates

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Operating profits at Samsung Electronics Co fell 30.51 per cent in the first quarter of 2015 compared to the same period one year earlier, the company said in an estimate Tuesday.

The South Korean electronics behemoth made an operating profit of 5.9 trillion won (5.44 billion dollars) between January and March, Yonhap News Agency reported.

Samsung’s estimate beat a median forecast of 5.47 trillion won compiled by the agency from among South Korea’s brokerages. It also represented a rise of 11.53 per cent on the previous quarter, the company said in a regulatory filing.

Samsung estimated its sales for the first quarter at 47 trillion won, a fall of 12.44 per cent on the same quarter one year earlier.

The estimates issued by the company did not include net profit or a breakdown by business sector.

The final figures for the first quarter are due to be released later this month.

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