Samsung Electronics reported a 21% year-on-year decline in sales in its IT and mobile division in the second quarter to 27.51 trillion Korean won (26.58 billion US dollars).
Samsung said it saw lower smartphone and tablet shipments due to a "higher inventory level; and increased costs related to ramp-up sales of S5 and inventory reduction." The Korean electronics giant added that mid to low-end smartphone shipments were down due to weak demand in the EU and lower 3G demand coupled with intensified price competition in China. In the tablets market, Samsung said its shipments were down due to weak overall demand, including lower demand for replacements. source: Samsung presentation
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