SEOUL: South Korea's Samsung Electronics said on Tuesday that its operating profits for the July to September period were down 77.57 percent from the year before, even as new smartphone releases boosted revenue. The company, which is one of the world's largest makers of electronic chips, announced third-quarter (Q3) operating profits of "2.4 trillion won ($1.7 billion) based on strong sales of flagship models in mobile and strong demand for displays." Samsung said on Tuesday that its operating profits from July to September were down 77.57 percent despite a boost in revenue from new smartphone sales. Samsung said on Tuesday that its operating profits from July to September were down 77.57 percent despite a boost in revenue from new smartphone sales. In April, Samsung said it would make a "meaningful" cut in memory chip production, following the lead of rivals SK Hynix and Micron.

Source: Manila Times November 01, 2023 04:16 UTC