Samsung predicts more declining profits in Q4 2014 guidance report

Samsung has issued its guidance report for the fourth quarter of the 2014 fiscal year, and profits continue to be on the decline from just a year ago. However, it appears that Sammy does expect to at least see a bump in both sales and profits over its previous third quarter report.

Samsung reports that it expects to make an operating profit of roughly 5.2 trillion won (about $4.5 billion), which is down from 8.3 billion just a year ago. As far as sales are concerned, Samsung says it expects them to reach approximately 52 trillion won (about $47.3 billion), which is down from about 59 trillion won a year ago.

While both profits and sales are down significantly from a year ago, Samsung does expect to see a slight bump over the previous quarter which saw total sales and profits hit 47.45 trillion and 4.06 trillion won, respectively.

These estimates follow a series of downturns in profit for the tech giant, which has recently led Samsung to reduce its smartphone portfolio by 30 percent this year.

We'll get a better peek at the company's actual financials when they are reported later this month.

Source: Samsung