Samsung Electronics reports 44 pct fall in Q3 profit

SEOUL, Oct. 24 (Yonhap) -- Samsung Electronics Co., the world's largest maker of
computer memory chips, said Friday that its third-quarter earnings fell 44.4
percent from a year earlier as a global glut of memory chips and displays drove
down prices.
Net profit reached 1.22 trillion won (US$873.3 million) in the three months ended
Sept. 30, compared with 2.19 trillion won a year earlier, the company said in a
regulatory filing.
Sales rose 15.4 percent on-year to 19.2 trillion won, but operating profit
tumbled 51 percent to 1.02 trillion won, the company said.
The third-quarter operating profit, however, was above a median estimate of 839.2
billion won in a survey of seven analysts conducted by Yonhap News Agency.