Samsung SDI profit drops by 67 percent

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Samsung SDI profit drops by 67 percent

Samsung SDI Co., the world’s largest plasma display maker, posted a 67 percent drop in quarterly profits as panel prices fell. The company forecast a shortage of panels during the current period. Net income fell to 78 billion won ($73 million) in the three months ending Sept. 30, compared to 233 billion won a year earlier, the company said yesterday. Excluding overseas affiliates, operating profit fell 48 percent to 70 billion won and revenue declined 6.1 percent to 1.4 trillion won. Samsung SDI, which said its plasma business broke even in September, joins LG Electronics Inc., the industry’s No. 2 producer, in predicting growth in demand for plasma televisions that can be hung on walls will outpace supply in the fourth quarter.

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