Dhaka, Feb. 3 -- Samsung Electronics on Wednesday reported a 34.57 percent drop in operating profits for the fourth quarter of 2023, as the company struggles with weak demand for consumer devices.
The company is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia's fourth-largest economy.
Operating profit from the October to December period was 2.82 trillion won ($2.1 billion), down from 4.31 trillion won a year earlier, Samsung said in a statement.
Sales for the last three months of 2023 dipped 3.8 percent to 67.78 trillion won, while a net profit of 6.34 trillion won was down 73.4 percent from a year earlier.
The firm - one of the world's...