10:55 - 27.04.2023

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April 27, Fineko/abc.az. In the first quarter of 2023, the profit of S Korean corporation Samsung Electronics Co Ltd slumped by 95% amid a sharp decline in demand for semiconductors in the world, which caused a collapse in prices.

ABC.AZ reports that world's leading manufacturer of memory chips and smartphones, reported that operating profit fell to 640 bn wons ($478.6 million) for Jan-Mar, compared with 14.12 trillion wons for the 2022 same term.

The result coincided with company's forecast of 600 bn wons, presented earlier in April.

The income dropped by 18% to 63.7 trillion wons.