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Tue 8 Jul 2014 12:45 PM

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Samsung hit by cheap Chinese devices

Samsung estimated that its operating profit would plunge nearly 25 percent on year in the second quarter of 2014, as cheap Chinese devices and a strong won hammered down its share of the global smartphone market.

Samsung hit by cheap Chinese devices
Visitors walk past a glass door showing the logo of Samsung Electronics at the company's showroom in Seoul on July 8, 2014. Samsung estimated that its operating profit would plunge nearly 25 percent on year in the second quarter of 2014, as cheap Chinese devices and a strong won hammered down its share of the global smartphone market. (AFP/Getty Images)
Samsung hit by cheap Chinese devices
Visitors look around a showroom of Samsung Electronics in Seoul on July 8, 2014. Samsung estimated that its operating profit would plunge nearly 25 percent on year in the second quarter of 2014, as cheap Chinese devices and a strong won hammered down its share of the global smartphone market. (AFP/Getty Images)
Samsung hit by cheap Chinese devices
A visitor looks at a Samsung Electronics Galaxy S5 smartphone at a showroom in Seoul on April 29, 2014. Samsung Electronics reported on April 29 its net profit had risen 5.9 percent year-on-year in the first quarter to 7.57 trillion won (USD 7.3 billion) but operating profit declined for a second straight quarter on slowing smartphone revenue. (AFP/Getty Images)
Samsung hit by cheap Chinese devices
A Samsung Galaxy S5 smartphone is displayed at a store in Seoul on April 11, 2014. The latest version of Samsung's flagship Galaxy smartphone series went on sale worldwide, days after the electronics giant announced it was facing a second consecutive quarter of profit decline. (AFP/Getty Images)
Samsung hit by cheap Chinese devices
A man uses a computer at a Samsung showroom in Seoul on April 8, 2014. Samsung Electronics posted estimated first quarter operating profits of 8.4 trillion won (7.96 billion USD), marking a second straight year-on-year decline as growth in global smartphone sales slows. (AFP/Getty Images)
Samsung hit by cheap Chinese devices
A South Korean customer looks at Samsung's Galaxy S5 smartphone at a mobile phone shop in Seoul on March 27, 2014. Samsung voiced discomfort over the earlier-than-scheduled release of its latest smartphone in South Korea, as wireless operators pushed out Galaxy S5 to work around business suspension slapped by regulators. (AFP/Getty Images)
Samsung hit by cheap Chinese devices
CEO and President of Samsung JK Shin presents the new Samsung Gear Fit during the first day of the Mobile World Congress 2013 at Forum Complex on February 24, 2014 in Barcelona, Spain. The annual Mobile World Congress hosts some of the world's largest communication companies, with many unveiling their latest phones and gadgets. The show runs from February 24 - February 27. (Getty Images)