Samsung Electronics, the world's No. 2 chipmaker, reported on Friday that its first-quarter profit fell 52% due to lower prices on semiconductors and LCD displays.

 

Profit tumbled to 1.5 trillion won ($1.46 billion) from 3.14 trillion won last year. Operating profit dropped 46% to 2.15 trillion won.

 

Revenue fell 4.2% to 13.81 trillion won from 14.41 trillion won.

 

Operating-profit margin at company’s semiconductor unit fell to 31% from 43% a year earlier and 33% in the fourth quarter.

 

Shipments of LCD displays rose 3% to 13.8 million units, but operating profit from LCD displays fell to 20 billion won from 840 billion won in the previous year.

 

For the total 2005 the company expects its LCD display shipments to rally to 177 million units.