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Samsung Electronics' operating profit halves in 2019

30 Jan 2020 11:58, Somoy English Desk
Samsung Electronics' operating profit halves in 2019
Samsung Electronics' operating profit halves in 2019

Samsung Electronics, South Korea's tech behemoth, saw operating profit more than halve last year, a regulatory filing data showed Thursday.

Operating profit amounted to 27.8 trillion won (23.5 billion U.S. dollars) in 2019, down 52.8 percent from the prior year, reports AP.

Revenue fell 5.5 percent to 230.4 trillion won (194.6 billion U.S. dollars), and net income plunged 51 percent to 21.7 trillion won (18.3 billion U.S. dollars).

During the October-December quarter, operating profit tumbled 33.7 percent from a year earlier to 7.2 trillion won (6.1 billion U.S. dollars).

Revenue grew 1.1 percent over the year to 59.9 trillion won (50.5 billion U.S. dollars) during the fourth quarter, but net income dropped 38.2 percent to 5.2 trillion won (4.4 billion U.S. dollars).

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