Samsung Q1 profit down 34.2% year on year
Samsung Electronics has posted its second straight drop in operating profit, with its Q1 profit dropping 34.2% from a year earlier to 2.9trillion won ($2.67billion).
The South Korea based company, the world's largest maker of memory chips, lcd panels and tvs has been hit by rising competition in tablets, tvs and phones.
Sales of the Galaxy Tab tablet computer also eroded the company's margin in the first three months of 2011, analysts said, as mobile carriers cut prices for the tablet computer to remove stockpiles amid weak consumer demand.
