SEOUL (Reuters) – Samsung Electronics Co Ltd reported a 95% plunge in first quarter profit on Thursday, as it grapples with a sharp global downturn in semiconductor demand that has sent prices plummeting.
The world’s top maker of memory chips and smartphones as of 2022 said operating profit fell to 640 billion won ($478.55 million) for the January-March quarter, from 14.12 trillion won a year earlier.
($1 = 1,337.3800 won)
(Reporting by Joyce Lee & Heekyong Yang; Editing by Jacqueline Wong)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.