AKIPRESS.COM - Samsung Electronics reported its second consecutive fall in quarterly profit on Tuesday, as weakness in flat-screen panels and the maturing high-end smartphone business weighed on the South Korean giant’s earnings.

But the company said the soccer World Cup in Brazil starting in June should help boost sales of screens and smartphones this quarter as fans invest in fancy gadgets to watch the action.

The world’s biggest smartphone maker is also banking on its flagship Galaxy S5 handset, launched this month, to outsell its predecessor and widen profit margins.

South Korea’s largest company by market value said operating profit in the first quarter fell 3.3 per cent from a year earlier to 8.5 trillion won (HK$63.5 billion) versus guidance of 8.4 trillion won, Reuters said.

Profit in the mobile division fell 1.2 per cent to 6.43 trillion won from 6.51 trillion won a year earlier.

“Samsung is expected to see profits rally in the second quarter and beyond, on the back of improved sales of display panels and home appliances,” the company said in a statement.