Samsung Electronics reports 86.1 percent decline in profits for Q1

Masam Removes 1,609 Mines, Unexploded Ordnance on May Fourth Week

The Masam Project operated by the King Salman Humanitarian Aid and Relief Center (KSrelief) to clear Yemeni land of mines, removed 1,609 mines, unexploded ordnance (UXO), and improvised explosive devices (IEDs) during the fourth week of May.

Magnitude 5 Earthquake Strikes Fiji Islands in the South Pacific

A magnitude 5.0 earthquake struck south of the Fiji Islands in the South Pacific Ocean on Sunday, according to the United States Geological Survey (USGS). The earthquake occurred at a depth of approximately 486.2 kilometers beneath the Earth's surface.

Oil price tops $100 a barrel

Oil prices jumped above $100 per barrel today, Monday, as the U.S. Navy prepares to take control of ship movements in the Strait of Hormuz.

Paris Saint-Germain Crowned UEFA Champions League Winners

French club Paris Saint-Germain claimed the UEFA Champions League title after defeating Arsenal 4-3 in a penalty shootout following a 1-1 draw in the final held at Puskás Aréna in the Hungarian capital, Budapest.

Last Update: ، 2026/06/01 Time 04:29:35
Latest News:

Saudi Defense Minister Delivers Leadership Condolences Following Death of Former President Hadi

Al-Alimi Receives Further Condolences on the Passing of Former President Hadi

UAE Leadership Extends Condolences to Leadership Council Chairman on Passing of Former President

Al-Subaihi, PM Receive Condolences in Aden on the Passing of Former President Abd-Rabu Mansour Hadi

President al-Alimi leads funeral procession of former President Abd-Rabu Mansour Hadi

Samsung Electronics reports 86.1 percent decline in profits for Q1

[27/04/2023 08:49]

SEOUL-SABA
Samsung’s first-quarter net income fell 86.1 percent to 1.57 trillion won, the worst in 14 years, blaming slowing consumer spending due to uncertainty over the global economy.

The world's largest memory chip and smartphone maker reported today, Thursday, an operating profit of 640.2 billion won ($478 million) in the January-March period, down 95 percent from 14.12 trillion won a year earlier.

The company's net profit income dropped to 1.57 trillion won from 11.32 trillion won in the same period a year earlier, while sales reduced with 18 percent to came 63. 74 trillion won.

The Samsung's chip division reported 4.58 trillion won in losses, its first operating loss since 14 years