Samsung Electronics operating profit drops 55.2% in Q2

Samsung Electronics on Thursday announced that its operating profit for the second quarter dropped 55.2 percent from a year earlier, due to provisions for memory inventory and weakened sales of electronic devices. In a regulatory filing, the tech giant reported 74.57 trillion won ($53.53 billion) in sales and 4.68 trillion won in operating profit for the April-June period. While sales rose 0.67 percent year-on-year, operating profit was nearly cut in half compared to the same period last year. The numbers fell far short of the brokerage consensus of 76.33 trillion won in sales and 6.27 trillion won in operating profit.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times