(Seoul) South Korean tech giant Samsung Electronics on Tuesday reported a 77.57% drop in operating profit in the third quarter (July-September) from a year earlier, despite the release of new phones that boosted its sales.
The company, one of the world’s largest chipmakers, reported third-quarter operating profit of “2.4 trillion won ($1.7 billion) on strong sales of flagship models.” in the field of mobile telephony and a strong demand for screens. The group announced in early October that it expected a 77.9% drop in operating profit due to weak global demand for semiconductors.