(MENAFN) Samsung Electronics announced registering a fall of 60 percent in its operating profit in the July-September period on sluggish mobile phone business, Xinhua reported.
Operating profit reached USD3.85 billion in the third quarter, down 60.05 percent from a year earlier, the company said in a statement. Compared to the prior quarter, the profit sank 43.5 percent.
Meanwhile, revenue declined 19.69 percent from a year earlier to USD45.21 billion in the third quarter, falling below the USD47.64 billion level for the first time in about two years.
Net income retreated 48.79 percent to USD4.02 billion in the cited period, and operating margin was 8.6 percent in the third quarter, sliding to the single-digit number for the first time in around three years.
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