Korea’s largest electronics and memory chip producer, Samsung, released on Wednesday that third-quarter profit dropped by a smaller-than-expected 78%.
The company further stated that its consolidated Q3 sales are at approximately 67 trillion Korean won, while its consolidated operating profit is expected to be approximately 2.4 trillion Korean won. Samsung generated 60 trillion Korean won in revenue in Q2.
The consolidated operating shows sign of a minor upward trend with 2.4 trillion Korean won estimated for Q3. Operating profits were 640 billion won in Q1 and 670 billion won during Q2.
Samsung has been facing a wider slowdown in chip sales and softening demand for consumer electronics.
Samsung shares rose 3.15 percent in Korean trade on Wednesday and are currently worth 68,200 KRW.