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Samsung Sinks As Fold Phone Waits

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Samsung Sinks As Fold Phone Waits

Samsung Sinks As Fold Phone Waits

Hong Kong (CNN Business)Samsung&apos;s operating profit plunged 60% in the first quarter, as the South Korean technology company grapples with the delayed launch of its troubled Galaxy Fold phone and waning demand for its memory chips.

The world&apos;s largest smartphone maker reported an operating profit of 6.2 trillion won ($5.3 billion) for the first quarter on Tuesday, compared to 15.6 trillion won ($13.4 billion) the year before.

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