Net profit of Samsung fell 30%


Net profit of Samsung Electronics fell by 30% due to weak demand for memory chips and smartphones. In the last quarter of 2018, Samsung's net profit fell to 8.5 trillion won from 12.2 trillion won in 2017. Operating profit declined by 28.7% to $9.7 billion, while revenue fell by 10.2% to $52.9 billion, or 59.2 trillion won. Analysts' forecasts were higher - net profit at the level of 8.6 trillion won and revenues at the level of 59.6 trillion won. The company received a minimum profit from the third quarter of 2016, when it had to withdraw sales of Galaxy Note 7. Samsung considers the decline in demand for memory chips and the weakening of the smartphone market to be the main reasons for the decline in the company's profit. At the same time, 2018 brought Samsung a record profit of 44.3 trillion won, while revenue rose to 245 trillion won. After the publication of the financial report, the company's shares fell by 0.2%.

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