Quarterly Earnings Samsung

Samsung reported its quarterly earnings figures for Q3 2008. Overall sales dropped 38% to 2.4 trillion won due to declining demand across its business sectors. Specifically, the semiconductor unit saw a decrease in revenue and operating profit compared to the previous quarter due to falling prices and increased competition. The LCD unit also experienced weak demand and lower prices, resulting in lower revenue and profit. However, Samsung's telecommunications network unit set a new quarterly record for handset shipments. The digital media unit reported an operating loss because of price competition and reduced demand.