Page last updated at 05:46 GMT, Friday, 24 April 2009 06:46 UK

Low chip and TV sales hit Samsung

Samsung at electronics fair, Nevada USA Jan 09
Samsung is South Korea's largest company

South Korea's Samsung Electronics has reported a 72% drop in quarterly profits after more losses at its microchip and LCD television divisions.

For the three months to 31 March, its net profit fell to 619bn won ($458m; £330m) from 2.2tn won a year ago.

However, the results were better than market expectations and an improvement on the group-wide losses reported for the last three months of 2008.

Losses at its semiconductor unit hit 650bn won between January and March.

The loss at the LCD television unit was 310bn won.

Samsung said both profits and sales at the two divisions had been hit by the continuing global economic slowdown.

By contrast, profits at its mobile phone handset business rose 2% to 940bn won as sales held up.

"The global economy is likely to continue to recover in the second quarter, but lingering uncertainty means it is difficult to predict a sharp improvement in demand or the business environment in the near term," said Robert Yi, Samsung's head of investor relations.

Samsung is South Korea's largest company and is the world's biggest producer of microchips.

Its net loss for the October to December period totalled 22.2bn won.

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