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Q4 slaps Samsung with first-ever quarterly loss

Samsung Electronics, South Korean consumer electronics superpower and ostensibly the world's largest manufacturer of flat screen televisions, memory chips and liquid crystal displays, posted its first ever quarterly loss Friday as the global economic slump hit prices and demand for mainstay products.

26 Jan 2009

Samsung lost 20 billion won (US$14.4 million) in the three months ended 31 December 2008, the company said. It had posted 2.21 trillion won ($1.59 billion) in net profit a year earlier.

The net loss - Samsung's first since the company began reporting results on a quarterly basis in the third quarter of 2000 - underlines the challenges facing electronics companies worldwide as major economies flounder in recession.

Read the full article here.