Samsung profits fall by 4% in Q1

Samsung’s January-March operating income declined 4% over the previous year amid worries about how declining prices of smartphones would affect the world’s largest mobile phone maker.

In its earnings preview the Asian tech heavyweight said its operating income for the first three months of this year reached 8.4 trillion won (£4.8bn), compared with 8.8 trillion won a year earlier. Sales remained flat at 53 trillion won.