(MENAFN) Samsung Electronics, the world's No. 1 smartphone maker, posted its lowest earnings in two years for the second quarter this year on sluggish smartphone sales, Xinhua reported.
The initial figure for the second-quarter profit was USD7.12 billion, decreasing 24.45 percent over a year ago, while it dropped 15.19 percent over the first quarter.
The South Korean electronics giant's revenue in the April-June period reached USD 51.38 billion, 9.5 percent lower than the same period a year ago and down 13.3 percent from the first quarter.
The decline market Samsung's first drop under the USD7.9-billion level since the second quarter of 2012, in which it recorded USD6.38 billion of operating profits.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.