Via AP Business

SEOUL, South Korea (AP) — Samsung Electronics Co. says its operating profit for the last quarter declined more than 60% from a year earlier because of falling chip prices and sluggish demands for its display panels.

The South Korean technology giant on Tuesday said its operating profit for the January-March period came in at 6.2 trillion won ($5.2 billion), which was similar to an estimate it announced earlier this month.

Samsung says its revenue for the quarter was measured at 52.4 trillion won ($45 billion), which represented a 13.5% drop from the same period last year.

Samsung, which has dual strength in parts and finished products, is the world’s biggest maker of memory chips and smartphones.


READ ALSO  Election 2020