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LG Display: "It appears that the market is now over the worst, but not yet starting a full recovery backed by actual demand," Kim told an earnings call, adding that a turnaround was expected in the fourth quarter.
Companies are grappling with excess chip inventories as consumers buy fewer electronics due to inflation. As a result, prices for memory chips have fallen.
It would be Samsung's lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data.
SEOUL (Reuters) -Samsung Electronics Co Ltd reported a likely 96% plunge in second-quarter operating profit on Friday, largely in line with forecasts, as an ongoing chip glut drives large losses in the tech giant's key business despite a supply cut. The world's largest memory chip and smartphone maker estimated its operating profit fell to 600 billion won ($459 million) in April to June, from 14.1 trillion won a year earlier in a short preliminary earnings statement. It would be Samsung's lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009...
SEOUL: Samsung Electronics reported a likely 96 per cent plunge in second-quarter operating profit on Friday (Jul 7), largely in line with forecasts, as an ongoing chip glut drives large losses in the tech giant's key business despite a supply cut. The world's largest memory chip and smartphone maker estim