Samsung Q1 Net Profit Drops

reported a drop in its net profit in the first three months of the year. Samsung's quarterly net profit slipped 39 percent year-over-year to 4.63 trillion Korean won ($4.3 billion), from 7.49 trillion won. Its revenue declined 12 percent year-over-year to 47 trillion won, while operating income slipped 30 percent to 5.98 trillion won. Operating profit at Samsung's mobile division dropped 57 percent year-over-year to 2.74 trillion won, while operating profit margin widened to 10.6 percent in the first quarter, versus 7.5 percent in the fourth quarter. Sales at its telecommunication division fell 20 percent to 25.89 trillion won. Sales at its semiconductor division rose 9 percent to 10.27 trillion won, while sales at Display panel division gained 12 percent to 6.85 trillion won. Sales at the company's digital media and appliances division dropped 9 percent to 10.26 trillion won in the latest quarter.