Seoul, Korea — Samsung Electronics, the world’s largest manufacturer of flat-screen televisions, memory chips, and liquid crystal displays, posted its first ever quarterly loss Friday as the global economic slump hit prices and demand for mainstay products.
Samsung lost 20 billion won ($14.4 million) in the three months ended December 31, the company said. Samsung posted 2.21 trillion won in net profit a year earlier.
The net loss — Samsung’s first since the company began reporting results on a quarterly basis in the third quarter of 2000 — underlines the challenges facing electronics companies worldwide as major economies flounder in recession.
To read more, click here.
