Samsung projects Q2 operating profit down 56% YoY to $3.3B, vs. $4.5B est., due to struggles in its chip business stemming from US export controls for China (Reuters)
157d ago
Technology
Techmeme
Samsung anticipates a significant decline in its Q2 operating profit, projecting a 56% year-over-year decrease to $3.3 billion. This falls short of the estimated $4.5 billion. The primary driver behind this downturn is attributed to challenges within Samsung's chip business. These challenges are largely a consequence of U.S. export controls impacting sales to China. The restrictions have created headwinds for Samsung's semiconductor division, impacting overall profitability for the quarter.