SEOUL (Xinhua) — South Korea’s tech firm Samsung Electronics logged a double-digit fall in its third-quarter earnings due to the continued semiconductor slump, the company said Wednesday.
Preliminary operating profit amounted to 2.4 trillion won (USD1.8 billion) during the July-September quarter, down 77.9 per cent compared to the same quarter of last year. It topped market expectations of about 1.84 trillion won (USD1.4 billion) due to a lower deficit in the chip business.
Preliminary revenue declined 12.7 per cent over the year to 67 trillion won (USD50 billion) in the third quarter. Net income and detailed earnings in each business unit will be unveiled later this month.
