Samsung Electronics Co. on reported Thursday operating profit of 640.2 billion won ($478 million) during the January-March period, falling 95 percent from the 14.12 trillion won it posted a year ago.
Yonhap reported that it was the company’s worst quarterly profit in 14 years, as global economic woes dented demand for consumer electronics and a chip glut battered its core business. Its first-quarter net income came to 1.57 trillion won, down 86.1 percent from a year earlier. Sales fell 18 percent to 63.74 trillion won.
Source: Qatar News Agency