Samsung’s profit plummets amid global economic woes

Samsung Electronics said its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demands for its consumer electronics products and computer memory chips (Ahn Young-joon/AP)

Samsung Electronics said on Tuesday that its profit for the last quarter plummeted nearly 70% as the weak global economy depressed demand for its consumer electronics products and computer memory chips.

The company’s operating profit of 4.3 trillion won (£2.8 billion) for the three months to December fell 69% compared with a year earlier, representing its lowest quarterly profit since the third quarter of 2014.