Samsung Electronics, a leader in consumer electronics, earned 3.51 trillion won ($3.33 billion) in the three months ended June 30, as against 4.28 trillion won in the same period last year with a decrease of 18 per cent in net profits.

The South Korean company has suffered this year due to slack prices for electronic components amid oversupply and weak demand, said a report in our sister publication, the Gulf Daily News.

Both operating profit and sales in Samsung's memory business fell as weak global personal computer sales suppressed demand for DRAM, or dynamic random access memory, chips used in the devices, the company said.

On Thursday, Sony and Panasonic also warned of weak TV sales, especially in the US and Europe.

Samsung is however betting big on its mobile phone business as it rolls out new versions of tablets and phones, helping it capture market share from Research in Motion and Nokia. Samsung sold 74 million handsets including 19 million smartphones, replacing Nokia to become the world's No 2 smartphone vendor after Apple. – TradeArabia News Service