Stay updated with breaking news from Refinitiv Smartestimate. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
It was reported late last night that Samsung Electronics' June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years due to its chip business losses
Operating profit for the world's biggest maker of memory chips, smartphones and TVs likely fell to 555 billion won ($427 million) in the April-June quarter, according to a Refinitiv SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate
Samsung Electronics is most likely to record a 96% on-year profit drop for the second quarter of 2023, according to a Refinitiv SmartEstimate forecast from 27 analysts.
SEOUL (Reuters) -Samsung Electronics' June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant's cash cow business despite a supply cut. Operating profit for the world's biggest maker of memory chips, smartphones and TVs likely fell to 555 billion won ($427 million) in the April-June quarter, according to a Refinitiv SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate. If so, it would be Samsung's lowest profit since the f...
SEOUL (Reuters) -Samsung Electronics' June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant's cash cow business despite a supply cut. Operating profit for the world's biggest maker of memory chips, smartphones and TVs likely fell to 555 billion won ($427 million) in the April-June quarter, according to a Refinitiv SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate. If so, it would be Samsung's lowest profit since the f...