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Smartphone market leader Samsung Electronics Co Ltd’s earnings were significantly down in the final quarter of 2013 compared to the previous record quarter, according to results released on Friday.
Net profit fell 11 per cent quarter-on-quarter to 7.3 billion won ($6.7 billion), the world’s largest manufacturer of memory chips, televisions and mobile phones said.
The Apple Inc competitor from South Korea attributed the fall to higher marketing costs and one-time expenses among other factors.
Net profit rose 3.6 per cent year-on-year thanks to Samsung’s dominance in the smartphone market and robust demand for chips.
Sales rose 5.7 per cent to 59.28 trillion won.
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