Samsung Electronics logs 18 pct drop in Q2 net

Samsung Electronics Co., the world's top memory chipmaker, said Friday that its second-quarter earnings declined 18 percent from a year ago as feeble demand for TVs and personal computers drove down chip and display prices.

Net profit reached 3.51 trillion won ($3.33 billion) in the April-June period, compared with 4.28 trillion won a year earlier, it said in a regulatory filing.

The bottom line was higher than the consensus of 3.35 trillion won by analysts polled by Yonhap Infomax, the financial news arm of Yonhap News Agency.

Sales rose 4 percent on-year to 39.44 trillion won, but operating profit sank 25 percent to 3.75 trillion won, which was in line with the company's guidance announced early this month. (Yonhap News)