• search


Written by: Staff

Seoul, Apr 14: Samsung Electronics Co. Ltd. posted a 25 percent drop in quarterly operating profit on Friday, hit by sliding margins in memory chips and mobile phones.

Samsung, the world's biggest maker of memory chips, earned 1.61 trillion won ($1.67 billion) in operating profit for the quarter ended March 31, compared with 2.15 trillion reported a year ago. It missed a 1.79 trillion won profit forecast by 12 analysts surveyed by Reuters.

But net profit rose to 1.88 trillion won from 1.5 trillion due to a 700 billion won write-down to support its credit card affiliate, Samsung Card, in the first quarter of last year.

The outlook for the current quarter is grim as prices for flash memory chips, popular in hot-selling digital cameras and music players, are likely to slide further before recovering in the second half on seasonal demand.

Shares in Samsung, the country's biggest stock with market value of $97.5 billion, fell 4.4 percent in the first quarter, trailing the broader market's 1.4 percent fall.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more