Samsung on Wednesday announced that profits during the company’s first quarter fell by a troubling 39%, dropping from approximately $7.8 billion in the same quarter a year ago to $4.35 billion during the company’s most recent quarter.
At the heart of Samsung’s drastic financial decline is a mobile division that is in desperate need of a boost. Year over year, profits from Samsung’s mobile unit fell by well over 50%, dropping from 6.43 trillion won to 2.74 trillion won, a decrease of nearly $3.4 billion.
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