SEOUL—Samsung Electronics Co. said it expects to post a 60% decline in first-quarter operating profit as memory-chip demand has faded, the latest fallout from a global pullback in spending. On Friday, Samsung said it expected an operating profit of 6.2 trillion South Korean won ($5.5 billion), down from 15.64 trillion won a year earlier. The company expects revenue to decrease 14% to 52 trillion won for the quarter ended March 31. The company reports its final results later this month.

Source: Wall Street Journal April 05, 2019 01:07 UTC