Seoul, October 27 (QNA) – Samsung Electronics Co. posted on Thursday a sharp drop in profits for the third quarter, as its main semiconductor business faced major headwinds from weakening memory chip prices and demand.
The world’s largest memory chip and mobile phone maker said in a regulatory filing its third-quarter net profit declined 23.6% from a year earlier to 9.38 trillion won (USD 6.6 billion).
Its operating profit for the July-September period fell 31.4% on-year to 10.85 trillion won.
Revenue increased 3.8% to 76.78 trillion won, a record for a third quarter.
“Looking towards next year, there are plans for increase of server data centers, and we do expect there to be a greater adoption of DDR5 coupled with a new CPU,” the company said. (QNA)
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