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Samsung likely to report 60% decline in Q2 profit, lowest in 3 years

Drop in memory chip shipments to China's embattled Huawei exacerbated a price-squeezing supply glut

Reuters  |  Seoul 

Samsung Electronics is likely to say second-quarter profit more than halved when it reports preliminary earnings on Friday, data showed, as a drop in memory chip shipments to China's embattled Huawei exacerbated a price-squeezing supply glut. The quarterly result would be the South Korean firm's lowest in nearly three years, with the prospect of an earnings recovery still some quarters away as a period of oversupply continues unabated amid a broader slowdown in tech markets, analysts said. The world's biggest supplier of DRAM and NAND memory chips is also the ...

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First Published: Wed, July 03 2019. 11:02 IST
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