Samsung Profits Plummet in the Wake of the Strong Won

Samsung Electronics Korea posted less than half the net profits of last year’s first quarter. Samsung blamed a strong won and plummeting prices.

Samsung said it earned $13.8 billion in sales.

Samsung Electronics executive director Joo Woo-sik said the company performed respectably despite unfavorable business conditions like soaring raw material prices and falling foreign exchange rates.


Most analysts attribute the tumble in profits in the first three months to a strong won.

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