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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Samsung Electronics Says Q3 Operating Profit Down 31% on-year

Samsung's goal is to become top-three in the 5G network equipment business. (AFP)

South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year on year after a global economic downturn hit demand for consumer electronics.

Earnings in its crucial memory chips division dropped, the company said in a statement, adding that "demand for consumer products remained weak".

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