Samsung Elec Q3 profit slumps 31% as economic woes hammer demand

This post was originally published on this site

The world’s top maker of memory chips and smartphones said operating profit fell to 10.85 trillion won ($7.7 billion) for the July-September quarter, from 15.8 trillion won a year earlier, the first year-on-year decline in nearly three years.

That was in line with Samsung (KS:005930)’s own estimate of 10.8 trillion won earlier this month.

Revenue rose 4% to 76.8 trillion won.

($1 = 1,416.8000 won)