Samsung sales fall most in over a decade as chip slump persists

Samsung Electronics reported its worst decline in quarterly revenue since at least 2009, stoking uncertainty over when a year-long electronics and memory chip demand slump will end.

The stock slid 2% in Seoul, the most on an intraday basis in more than two months, after Samsung reported a larger-than-anticipated 22% decline in sales to 60 trillion won (US$46 billion). Operating profit plunged 96% in the three months ended June, though at 600 billion won that surpassed average estimates.