The company's third-quarter profit was well above the first quarter's 640 billion.

This is firm's worst quarterly profit since Q1 2009.

The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as demand plummeted for chips. Intel, one of the world's leading semiconductor makers, was also affected by falling demand for chips that power data centers and is struggling to compete with...

The company reports its worst quarterly profits in 14 years.

The company is world's second-largest memory chip maker

to further tighten finances  spurred by concerns over deteriorating consumer sentiment caused  [by] continued high global interest rates and weak economic outlooks". Against that backdrop, the Galaxy smartphone maker "saw a significant drop in the memory business results due to lackluster demand and also weaker sales of smartphones," it added.

It, however, reported a 3.79% increase in sales.

The South Korean tech giant, Samsung Electronic, has said that it expects operating profits in the third quarter to fall 31.7 percent as a global economic downturn hit demand for consumer electronic. The latest forecast is the company's first projection of a year-on-year decline in profit for nearly three years.

Steady chip demand and brisk smartphone sales led to the rise.

The company likely to release full results on April 28.

The firm was boosted by record sales in 4th quarter.

The firm painted an optimistic view for the remainder of the year.