Samsung Q4 profits down

Jan 13 2005 - 09:17 PM ET | Samsung
Samsung today reported lower than expected quarter four financials. Overall there was a 42 percent decrease in operating profits. Samsung attributes the lower profits in the handset division to dropping prices brought on by compitition. Samsung also announced that the company expects to sell 100 million mobile phones in 2005 (compared to 86 million in 2004). Back in November, Samsung announced that it expected to ship 140 new mobile phone models in 2005. Of those new models, 15 are expected to be expensive advanced phones.