Samsung sees profit dent

Samsung rules the roostGiant chaebol Samsung said its profit fell in the quarter between October and December.

Although it delivered net profit of £4 billion, it faces competition on its successful mobile phone francise.

In addition, it was also hit by currency movements and paid out a big bonus to its employees to celebrate 20 years of its glorious chairman’s hand on the tiller.

Mobile phone revenues  fell by 18 percent compared to the previous quarter in 2013.

It warned that competition on the mobile phone front would get tougher in 2014 but of course it is still a big player in the game.