Samsung's net quarterly profit falls 38.9%

  • Samsung Electronics has recorded a 38.9% drop in quarterly net profits to $4.3 billion for the first three months of 2015 compared to the same period in the previous year.

    The fall in profits, which failed to meet expectations, came despite a boost in demand for memory chips. It was the handset maker’s fourth consecutive quarterly fall in net profit.

    However, in a positive sign, the South Korean firm’s operating profit increased by 13.1% from the fourth quarter of 2014.

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