Samsung Electronics Second-Quarter Profit Drops on LCD Slump
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Samsung Electronics Co., the world’s largest maker of televisions, posted a 26 percent drop in second-quarter profit after a slump in sales of flat screens masked a surge in demand for smartphones and tablet computers.
Operating profit in the three months ended June fell to about 3.7 trillion won ($3.5 billion), compared with 5.01 trillion won a year earlier, the Suwon, South Korea-based company said in a statement today, without giving an explanation. That compared with the 3.8 trillion won average of 25 analyst estimates compiled by Bloomberg.