April 29, 2019 / 11:49 PM / 25 days ago

Samsung Elec Q1 profit falls 60 pct on-year as weak chip prices bite

SEOUL, April 30 (Reuters) - Samsung Electronics Co Ltd posted a 60 percent drop in first-quarter operating profit on Tuesday, hit by falls in chip prices and slowing demand for display panels.

Operating profit was 6.2 trillion won ($5.4 billion) in the January-March quarter, in line with the 6.2 trillion won the company had estimated earlier this month.

Revenue fell 13.5 percent to 52.4 trillion won, also in line with its earlier estimate.

$1 = 1,158.7900 won Reporting by Ju-min Park; Editing by Stephen Coates

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