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Samsung Electronics on Friday reported its first quarterly loss ever, echoing the pain felt by technology rivals around the world - Nokia, Microsoft, Intel, Sony and LG Electronics among them - as global demand evaporated and price pressures intensified.
Also on Friday, Qimonda of Germany became the first major chip maker to file for insolvency, but said it hoped to continue operations. Qimonda, which makes DRAM, or dynamic random access memory, chips, used mainly in PCs, said a €325 million, or $417 million, rescue attempt had not been agreed on in time to save it.
Samsung, the South Korean company that is the world's biggest manufacturer of memory chips and liquid crystal displays and is among the largest cellphone makers, reported an operating loss of 937 billion won, or $674 million, for the October-December period, more than twice what analysts had expected, and a huge reversal from the 1.78 trillion won profit it generated a year earlier.
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