Samsung reports worst profit drop in 4 years

Jamie McKane

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Samsung reports worst profit drop in 4 years

Samsung Electronics Co. reported its worst operating-profit drop in more than four years, buffeted by falling memory-chip prices and slowing smartphone sales.

Operating income fell 60 percent to about 6.2 trillion won ($5.5 billion) in the three months ended March, according to preliminary results released Friday from the Suwon, South Korea-based company.

[Bloomberg]
 
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