Samsung Electronics Reports its first annual earnings decline in three years

South Korean tech giant Samsung Electronics reported its first annual earnings decline in three years.

Samsung's net profit fell 27% from a year earlier to 5.3tn won ($4.8bn; £3.2bn) in the October to December 2014 period, in line with expectations.Samsung reported a net profit of 5.3 trillion won ($A6.17 billion) for the October-December period, compared to 7.3 trillion won a year ago.
Samsung also announced a dividend of 19,500 won a share, up from 13,800 won a year earlier.

Samsung's profit of 25tn won for the year, down from a record 36.8tn won in 2013, was the lowest since 2011.Revenue in its mobile business, which was the driver of record earnings in 2013, tumbled 23% in the fourth quarter from a year ago, while for the year it fell 19%.
Overall, the company's sales fell 11% in the fourth quarter
Samsung,the world's biggest smartphone maker has been facing stiff competition from Apple and cheaper Chinese rivals.