The firm's smartphone unit reported operating profit of 1.75 trillion won (US$1.7bil) in the third quarter, a dramatic decline from 6.7 trillion won (US$6bil) a year ago - EPA Photo.
SEOUL: Samsung reported Thursday a near 50% fall in third quarter net profit, as its key smartphone business faltered amid growing competition from Chinese firms in the increasingly saturated market.
Net profit for the South Korean electronics giant amounted to 4.22 trillion won (US$4bil) for July to September – the lowest such figure in nearly three years.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
