Samsung Q3 Profits Decline 29.6%
Samsung Electronics Co
Seoul - QNA
Samsung Electronics Co. said Thursday its third-quarter operating profit slipped 29.6% from a year earlier, mainly hit by the discontinuation of the Galaxy Note 7 smartphone over safety concerns.
The company said its operating profit for the July-September quarter stood at 5.2 trillion won (US$4.6 billion), compared with a profit of 7.3 trillion won a year ago, according to (Yonhap) news agency.
Compared with a quarter earlier, Samsung's operating profit plunged 36.1%. Revenue for the third quarter fell 7.4% from a year earlier to 47.8 trillion won, Samsung said in a regulatory filing.
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