Profits at South Korean electronics giant Samsung Electronics Co. were significantly down in the second quarter of 2014 compared to the previous year, amid slowing growth in the mobile phone market, according to results released on Thursday.
Net profit during the April to June quarter fell 19.5 per cent year on year to ₩6.25 trillion ($6.1 billion), the world’s largest manufacturer of memory chips, televisions and mobile phones said in a regulatory filing.
Samsung had previously forecast an earnings drop.
Sales fell 8.89 per cent to ₩52.35 trillion.