Samsung first-quarter profit plummets

Samsung Electronics, the world's number one maker of computer memory chips and flat screen TVs, said net profit plummeted 72% in the first quarter as the global economic slump continued to suppress consumer demand.

Samsung earned 619.20 billion won (€349m) in the three months ended March 31, it said today. The company earned net profit of 2.19 trillion won (€1.23bn) a year earlier.