Samsung says Q4 profits plunge 69% to 8 year low on demand slump

SEOUL: Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, its biggest such quarterly drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales.

The South Korean tech giant said operating profits for the October-December period slumped to 4.3 trillion won, a 69 percent drop from a year earlier. –AFP