Samsung's profit sinks 39 percent as its mobile profit shrinks

Samsung Electronics Co. said its first-quarter net income has plunged 39 percent as the smartphone business saw its profit shrink to less than half from a year earlier.
Analysts estimate Samsung sold more smartphones than Apple during the quarter but the Korean firm lost its share in the high-end market to Apple after the maker of the iPhone began offering models with bigger screens last fall.
Apple on Tuesday reported that it sold 61 million iPhones in the quarter, which drove another quarter of blow-out profits.

Associated Press | New York Times

So much for all those predictions that Samsung would destroy Apple.