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Tuesday, January 08, 2019, 14:16
Samsung's operating profit posts double-digit fall in Q4
By Xinhua
Tuesday, January 08, 2019, 14:16 By Xinhua

This May 8, 2015 photo shows people walking past a Samsung store in Beijing. (GREG BAKER / AFP)

SEOUL - Samsung Electronics, the world's biggest maker of memory chips, displayed panels and TVs, posted a double-digit fall in operating profit in the fourth quarter, a regulatory filing showed Tuesday.

Preliminary figure for operating profit was 10.8 trillion won (US$9.6 billion) in the October-December quarter, down 28.7 percent from a year earlier.

Revenue declined 10.6 percent over the year to 59 trillion won (US$52.5 billion) in the December quarter

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It missed market expectations of about 13.4 trillion won (US$11.9 billion), recording an earnings shock.

Revenue declined 10.6 percent over the year to 59 trillion won (US$52.5 billion) in the December quarter.

Net income and earnings of each business would be announced later this month after external audit and approval by board of directors.

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For the entire year of 2018, Samsung's revenue reached a new high of 243.5 trillion won (US$216.6 billion), up 1.6 percent from the previous year.

Operating profit grew 9.8 percent over the year to hit a new record high of 58.9 trillion won (US$52.4 billion) in 2018.

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