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SAMSUNG ELECTRONICS' NET PROFIT TUMBLES 42 PCT IN 1ST QUARTER.
AsiaPulse News, April, 2003
SEOUL, April 21 Asia Pulse - Samsung Electronics Co. (KSE:05930) said its net profit dropped 42 per cent in the first quarter of this year from a year earlier due to low computer chip prices, sluggish consumption and geopolitical concerns like the war in Iraq and North Korea's nuclear programs.
Samsung Electronics' net income dwindled to 1.13 trillion won (US$1.11 billion) from a record 1.9 trillion won a year ago, especially because the prices of computer memory chips dropped by almost half.
The company achieved sales of 9.6 trillion won, down 10.5 per cent from the last quarter of 2002. The company's operating profit also reduced 10.5 per cent to 1.35 trillion won quarter to quarter.
"Despite the worsening market situation, Samsung Electronics...
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