Samsung Electronics’ Q4 profit falls 69% as device demand drops

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The world’s biggest maker of memory chips and smartphones said October-December operating profit fell to 4.3 trillion won ($3.49 billion), its lowest quarterly profit in eight years, from 13.87 trillion won a year earlier.

That compared with the company’s own estimate of 4.3 trillion won earlier this month.

Revenue fell 8% to 70.5 trillion won.

($1 = 1,232.6000 won)