SEOUL -- Samsung Electronics, the world's biggest smartphone and memory chip maker, reported a slump in first-quarter net profits Tuesday, in the face of a weakening chip market and rising competition. The result is the latest bad news for the tech titan, which last week was forced to delay the release of its much-hyped $2,000 foldable smartphone owing to problems with the screen. Net profits in the January-March period were 5.04 trillion won ($4.3 billion) -- the lowest since the third quarter of 2016 and down 56.9 percent year-on-year. https://twitter.com/Samsung/status/1123015419948744704 Operating profit also plunged 60.2 percent to 6.2 trillion wo...
Keep on reading: Samsung Electronics hit with quarterly profit slump
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