Samsung Electronics reported a 30 percent drop in quarterly profits compared to a year ago amid lower prices of memory chips and flat screens. The company earned 1.88 trillion won in net profit for the third quarter, in line with analysts' forecasts of 1.89 trillion.

Profit was 2.69 trillion won a year ago. Sales were 14.54 trillion won versus 14.34 trillion a year ago.

Samsung said it is optismitic on its 4th quarter earnings outlook based on healthy demand for its flash memory chips and large LCD screens.

Average contract prices of the mainstay 256-megabit DDR (double data rate) DRAM chips tumbled 40 percent by the end of September from a year ago, analysts said.

The NAND flash market is expected to be tight until the end of 2006 due to the launch of next-generation MP3 players, high density memory cards and third-generation (3G) handsets.

By: DocMemory
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