New iPhones Torpedo Samsung's Fourth Quarter

Apple's introduction of the iPhone 5S and 5C prompted Samsung's first decline in operating profit in two years though investors, who had been expecting such a shortfall, shrugged off the news.

Samsung's operating profit fell 18% to $7.7 billion for the quarter, which ended Dec. 31. Samsung's stock price was up 0.2% Friday morning after falling 2.2% Thursday. The figure compares to a 26% jump in profit in Samsung's third quarter

The South Korean company's stock lost $8.8 billion in one day earlier this month as investors fretted that the company's profit growth was slowing amid increased competition from Apple but also Lenovo and Huawei in China Read more...