Samsung Electronics quarterly profit declines

Samsung Electronics, the world's biggest maker of mobile phones and TVs, has reported a drop in quarterly profit for the first time in two years.Net profit was 7.3tn won ($6.8bn; £4bn) in the October-to-December period, down 11% from the previous three months. Samsung's earnings were hurt by a drop in margins in its mobile phone division, which saw operating income fall 18% quarter-on-quarter. A special bonus payment and currency fluctuations also hurt its earnings. The company paid a special bonus totalling 800bn won to employees during the quarter to celebrate the 20th anniversary of Chairman Lee Kun Hee's management strategy, which is widely credited to have spurred its growth, according to BBC.