Samsung Electronics third-quarter operating profit down 60.1 percent on year

October 29
8:18 PM 2014

Samsung Electronics Co Ltd (005930.KS) said third-quarter profit fell 60.1 percent from a year earlier to the lowest in more than three years, as earnings for the mobile division continued to shrink.

The world's top smartphone maker on Thursday reported a July-September operating profit of 4.1 trillion won ($3.90 billion), in line with its estimates issued earlier in October.

Profit for the mobile division, which drove Samsung's earningsgrowth in 2012 and 2013, shrank to 1.75 trillion won from 6.70 trillion won a year earlier. This was the weakest since the second quarter of 2011.

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