Samsung Electronics Co., the world's largest maker of computer memory chips, announced Friday it lost 20 billion won (US$14.7 million) in the fourth quarter of 2008, posting its first-ever quarterly loss.

During the same period in 2007 the company earned a profit of 2.21 trillion won (US$1.63 billion), according to Samsung Electronics.

The company said its fourth-quarter operating loss was at 94 billion won (US$69.1 million), compared with a profit of2.8 trillion won (US$2.06 billion) in the previous year.

Sales also dropped to 18.45 trillion won (US$13.6 billion) from 20 trillion won (US$14.7 million) a year ago, it added.

Samsung has been hurt by sinking demand for semiconductors, mobile phones and other consumer electronics as worldwide demand for these products plunged amid the ongoing global economic recession.

(Xinhua News Agency January 24, 2009)