Samsung Electronics’ 4Q profit sinks 40 percent

Samsung Electronics reported a sharp drop in its earnings for the fourth quarter of last year as its two core businesses face a slowdown amid weakening global demand for consumer electronics products.

The company’s net profit for the October-December period plunged 40 percent from a year earlier to 3.2 trillion won, or about 2.7 billion dollars.

The latest results reflect new challenges for Samsung as two core businesses, smartphones and semiconductors, face a slowdown.

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