Samsung reports first ever quarterly loss

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Samsung reports first ever quarterly loss

Microscope contributor

Samsung has reported its first ever quarterly loss as the slump in demand impacted demand for hardware and components.

The loss of $662m for the last three months of the year, its fiscal fourth quarter, was the first the company had ever announced and compared to a strong and profitable position a year earlier.

Sales for the quarter dropped by 4%, gross profit margins fell by 19% and the figures were dragged down by the chip unit, which saw a 31% profit margin turn into a 14% margin loss.

The vendor also warned that there were oversupply issues in the memory market that would continue until the mid point of the year.

Looking forward Samsung stated that it expected the second half of the year to recover across most of its product lines as market conditions improved and seasonal spending kicked in.

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