Samsung posts 48.8% drop in Q3 net profit

Samsung Electronics said Thursday its third-quarter net profit plunged nearly 50 percent from a year ago to 4.22 trillion won ($4 billion).

The South Korean electronics giant reported operating profit of 4.06 trillion won for July to September, down 60 percent from a year ago and slightly less than its earlier forecast of 4.1 trillion won.

Sales also tumbled about 20 percent to 47.4 trillion won, Samsung said in a regulatory filing.