Samsung Electronics semiannual net profit drops 55%

The South Korean firm Samsung Electronics announced today that in the first half of this year its net profit fell 55% over the same period of 2018 and sales were reduced by 8.8%.

According to the data released by the firm, between January and June, its net profit reached 10.22 billion won (7.753 million euros / 8.646 million dollars), 55.0% less than in the same period of the last year.

In terms of sales, in the first half of this year were 108.52 billion won (82.288 million euros / 91.805 million dollars), 8.8% less than between January and June 2018.

Operating profit or ebitda reached 12.83 billion won in the first half (9.728 million euros / 10.854 million dollars), 57.9% less than in the first half of 2018.

Taking into account only the second quarter of the year, which focused the company's explanations when reporting its results, Samsung had a net profit of 5.18 billion won (3.929 million euros / 4.382 million dollars), 53% less than in the second quarter of 2018.

Quarterly sales between April and June reached 56.13 million won (42,573 million euros / 47,485 million dollars), 4.0% less than in the same period last year.

The operating profit for the second quarter of this year was 6.60 billion won (5,006 million euros / 5,584 million dollars), 55.6% less than in the same period last year.

In explaining its data for the second quarter, Samsung attributed the decline in its revenues to limitations in the microprocessor market, of which it is the world's leading producer, as well as lower prices.